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HERNANDO BANK v. HUFF

No. 85-4368.

796 F.2d 803 (1986)

The HERNANDO BANK and Gateway Capitol Corp., Plaintiffs-Appellees, v. Sharon Smith HUFF, William B. Kountz, Jr., Robert A. Kountz, Diane Smith McDowell, and Mrs. Willie W. Kountz, Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

August 13, 1986.

Attorney(s) appearing for the Case

John W. Dulaney, Jr., Dulaney & Dulaney, Tunica, Miss., for defendants-appellants.

William W. Ballard, Hernando, Miss., for Gateway Capitol Corp.

Charles M. Merkel, Merkel & Cocke, John H. Cocke, Clarksdale, Miss., for Hernando Bank.

Before JOHN R. BROWN, REAVLEY, and ROBERT M. HILL, Circuit Judges.

OPINION

REAVLEY, Circuit Judge:

In this diversity action, five stockholders appeal the district court's finding that the "fair value" of their shares of plaintiff Hernando Bank ("Bank") was $100 per share. Hernando Bank v. Huff, 609 F.Supp. 1124 (N.D.Miss.1985). We affirm.

FACTS

On September 9, 1982, Bank stockholders voted to enter into a merger whereby Bank would become a subsidiary...

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