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KAPLAN v. FIRST HARTFORD CORP.

Civil No. 05-144-B-H.

522 F.Supp.2d 275 (2007)

Richard E. KAPLAN, Plaintiff, v. FIRST HARTFORD CORPORATION and Neil Ellis, Defendants.

United States District Court, D. Maine.

November 7, 2007.

Attorney(s) appearing for the Case

Larry C. Kenna, Robert Rothberg, Choate, Hall & Stewart, Boston, MA, Thomas C. Newman, Sarah A. McDaniel, Murray, Plumb & Murray, Portland, ME, for Plaintiff.

Peter W. Culley, Gavin G. McCarthy, Pierce Atwood LLP, Joseph H. Groff, III, Jensen, Baird, Gardner & Henry, Portland, ME, for Defendants.

FINDINGS OF FACT AND CONCLUSIONS OF LAW PART 2: REMEDY

D. BROCK HORNBY, District Judge.

The question here is remedy: What should this Maine corporation's minority shareholder recover upon a judicial finding of oppression by a director/controlling shareholder? I conclude that the remedy is a compulsory buy-out of the minority shareholder, with his shares valued as of the day he filed his Complaint.

PROCEDURAL HISTORY

After a bench trial...

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