Matter of Seagroatt Floral Co. Inc.(riccardi)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that application of marketability discount to value all shares of corporation was appropriate, but application of further minority discount was inappropriate
• recognizing that an ordered , buy-out of stock at fair value is an appropriate remedy in a closely held corporation for the oppressive acts of the majority, when there is no ready market for the corporation’s shares
• stating that illiquidity is a relevant factor in determining fair value of shares in a buy-out
• suggesting that imposition of joint and several liability on two closely-held corporations effectively amounted to piercing corporate veil
• looking to New York case law as persuasive on issues regarding valuation of closely held corporations
• stating a court should consider risk associated with share liquidity but not mandating that discounts be applied

Source: CourtListener parenthetical corpus (CC0).