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Dissenting Shareholders and Minority Oppression Actions
When a disgruntled owner of a closely held business has chosen to exit the business, they cannot sell their stock as easily as a shareholder of a publicly traded stock. Often they must hold on to the stock until filing a dissenting minority shareholder action. Each state has unique laws which govern this type of action. Although the laws vary from state to state, one recurring provision allows for dissenting minority shareholders to be paid the "fair value" of their stock upon selling their shares. For more information, please read the attached LMF authored article on Fair Value Versus Fair Market Value.
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