Genesco, Inc. v. Scolaro

OPINION

CANTRELL, Judge.

The primary question on this appeal is whether the Chancery Court of Davidson County was correct in using the Delaware Block method to determine the value of dissenting shareholders’ preferred stock. The appellant also insists that the lower court erred in awarding attorney fees and costs to the dissenter under Tenn.Code Ann. § 48-23-302(b)(2). We affirm.

I

In December of 1987, Genesco, Inc., a Nashville-based shoe and apparel manufacturer, amended its charter to permit the exchange of common shares for its subordinated serial preferred stock. Pursuant to Tenn.Code Ann. §…