Anthony Ostlund Obtains a Favorable Judgment Following a “Dissenter’s Rights” Trial
Anthony Ostlund attorneys Norm Baer and Amelia Selvig recently obtained a favorable judgment for a client who was squeezed out of a Twin Cities search and consulting firm. Anthony Ostlund client Paul Beard was ousted from his company in a squeeze out merger that valued the company at $2.48 million. Beard dissented from the merger which triggered his right to a Determination of Fair Value. Following a five-day court trial, a Hennepin County District Court Judge determined that the fair value of the company was $5.7 million. The Court concluded that the company failed to comply substantially with its obligations under Minn. Stat. section 302A.473 by paying Mr. Beard less than half of the fair value of his shares in the company. Accordingly, the Court also awarded costs, attorneys’ fees, and expenses.
Click here to read copy of the Court’s order.