United States Eleventh Circuit

District court, in determining "fair value" of stock held by plaintiff under Fla. Stat. section 607.1436, did not abuse its discretion in: 1) utilizing a comparable sales/fair market value method to determine "fair value"; 2) interpreting "going concern" to mean that the business would be run in a reasonably prudent manner going forward; or 3) normalizing defendant's operating margin. Moreover, there was no abuse of discretion in the court's refusal further to adjust its calculation of fair value to account for any corporate waste.

Appellate Information

• Decided 12/21/2007
• Published 12/21/2007

Judges

• BIRCH, Circuit Judge:, Before BIRCH and BARKETT, Circuit Judges, and KORMAN, District Judge.

Court

• United States Eleventh Circuit

Counsel

• For Appellant:
  
• Bruce A. Hanna, Robert T. Bowling, Cobb & Cole, Daytona Beach, FL, Joseph W. Hatchett, Akerman, Senterfitt & Eidson, P.A., Tallahassee, FL, for News-Journal Corp., Lesli N. Gaither, Peter Canfield, Dow Lohnes, PLLC, Atlanta, GA, Courtney K. Grimm, John A. DeVault, III, Bedell, Dittmar, DeVault & Pillans, P.A., Jacksonville, FL, for Cox Enterprises, Inc., Michelle Milberg, Thomas R. Julin, Talbot D'Alemberte, Hunton & Williams, Miami, FL, for Amicus Curiae.