Utah Res. Int’l, Inc. v. Mark Techs. Corp.
Annotate this CaseUtah law provides that shareholders may dissent from certain corporate transactions and that the corporation must pay the dissenting shareholders “fair value” for their shares. Two minority shareholders of Utah Resources International, Inc. (URI) dissented from URI’s consummation of a share-consolidation transaction, but URI and the dissenters disagreed on the fair value of the dissenters’ shares. URI petitioned the district court to determine the fair value of the shares. The district court concluded that the fair value of the dissenters’ shares was more than two times the amount proposed by URI. The Supreme Court vacated the district court’s ruling, holding that the district court erred in disallowing four deductions from URI’s assets in determining the fair value of the dissenters’ shares in URI. Remanded.
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