For Your Information Stringer V. Car Information Systems, Inc. Representative Brief
February 14, 2016
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Stringer v. Car Data Systems, Inc. representative brief summary
841 P.2d 1183 (1992)
CASE FACTS
The minority shareholders alleged that the bulk shareholders owed them a duty of loyalty, adept faith, fair dealing, in addition to total disclosure that was breached when the bulk transferred corporate assets to themselves in addition to offered the minority shareholders a fraction of the truthful value of their shares.
DISCUSSION
CONCLUSION
The judgment inwards favor of the corporation, bulk shareholders, in addition to directors was affirmed.
Recommended Supplements for Corporations in addition to Business Associations Law
841 P.2d 1183 (1992)
CASE SYNOPSIS
Plaintiff shareholders filed accommodate against defendants, corporation, bulk shareholders in addition to directors, in addition to claimed a violation of their rights incident to a cash-out merger. The shareholders challenged when the Court of Appeals (Oregon) affirmed the lawsuit court's dismissal, for failure to the world a claim, of their electrical load that the bulk shareholders in addition to directors conspired to breached a fiduciary duty owed to them equally minority shareholders.CASE FACTS
The minority shareholders alleged that the bulk shareholders owed them a duty of loyalty, adept faith, fair dealing, in addition to total disclosure that was breached when the bulk transferred corporate assets to themselves in addition to offered the minority shareholders a fraction of the truthful value of their shares.
DISCUSSION
- The courtroom held that the minority shareholders had non alleged whatever fraudulent or misleading representations that were relied upon, only solely that the amount paid past times the corporation was unfair in addition to unreasonably depression inwards an drive to avoid paying fair value to the minority shareholders for their shares.
- The electrical load contained no allegations of fact that, if proved, would accept supported a punitive damages award.
- The allegations showed solely a disagreement equally to cost amongst no allegations that permitted whatever inference of self-dealing, fraud, deliberate waste product of corporate assets, misrepresentation, or other unlawful conduct.
- The remedy afforded past times the appraisal statutes, Or. Rev. Stat. § 60.551 to 60.594, was the exclusive remedy for the minority shareholders fifty-fifty if the bulk shareholders acted arbitrarily or vexatiously or non inwards adept faith.
CONCLUSION
The judgment inwards favor of the corporation, bulk shareholders, in addition to directors was affirmed.
Recommended Supplements for Corporations in addition to Business Associations Law