ZETLIN V. HANSON HOLDINGS, INC.
48 N.Y.2d 684, 397 N.E.2d 387 (1979)
NATURE OF THE CASE: Zetlin (P) minority shareholder challenged an order, which affirmed partial summary judgment to Hanson (D) corporation in P's minority shareholder's action contending that minority stockholders were entitled to share equally any premium paid for controlling shares.
FACTS: Zetlin (P) owned approximately 2% of the outstanding shares of Gable Industries, Inc. Hanson Holdings (D) owned, together with the Sylvestri family, 44.4% of Gable's shares. D sold its interest to Flintkote Co. for a premium of $15 per share when Gable was selling on the open market at $7.38 per share. The 44.4% acquired by Flintkote represented effective control of Gable.
ISSUE:
RULE OF LAW:
HOLDING AND
DECISION:
LEGAL ANALYSIS:
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