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PRO FINISH USA, LTD. v. JOHNSON

No. 1 CA-CV 02-0091.

63 P.3d 288 (2003)

204 Ariz. 257

PRO FINISH USA, LTD., an Arizona Corporation, Plaintiff-Appellant, v. Ronald James JOHNSON and Jennifer J. Johnson, husband and wife, individually and as Trustees of the Ronald James and Jennifer J. Johnson Family Trust Dated August 25, 1995; the Ronald James and Jennifer J. Johnson Family Trust Dated August 25, 1995; and Virginia Dayton, a single woman, Defendants-Appellees.

Court of Appeals of Arizona, Division 1, Department C.

As Amended February 21, 2003.

Attorney(s) appearing for the Case

Jones, Skelton & Hochuli, P.L.C., By William D. Holm, and Randall H. Warner, Phoenix, for Plaintiff-Appellant.

Schmitt, Schneck, Smyth & Herrod, P.C., By Stephen G. Smyth, Phoenix, for Defendants-Appellees.

OPINION

LANKFORD, Judge.

¶ 1 This appeal requires that we determine how courts should decide the "fair value" of the stock of minority shareholders who dissent from a closely held corporation's sale of its assets. Central to our determination is this question: May the sale price of the assets be considered?

¶ 2 The corporation, Pro Finish USA, Ltd., appeals from the superior court's determination of the fair value of the shares held by...

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