How have courts applied the rule of majority fair value appraisals on appeal?

California, United States of America

The following excerpt is from Goles v. Sawhney, 210 Cal.Rptr.3d 261, 5 Cal.App.5th 1014 (Cal. App. 2016):

have applied this rule. (Lewow v. Surfside III Condominium Owners ' Assn. , Inc. (2012) 203 Cal.App.4th 128, 129, 137 Cal.Rptr.3d 376.) Based upon this record, we cannot say that the result was correct.
The judgment is reversed. On remand, the trial court is ordered to obtain a majority fair value appraisal that takes into account the derivative claims and does not use a lack-of-control discount. In the alternative, the trial court may take evidence on the derivative claims and make a de novo determination of the fair value of appellants' shareholder interest, consistent with section 2000. (Cotton v. Expo Power Systems , Inc. , supra , 170 Cal.App.4th at p. 1383, 89 Cal.Rptr.3d 112.) Appellants are awarded costs on appeal.

We concur:

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How have courts applied the rule of majority fair value appraisals on appeal?

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