(Photo: Itchaznong/Adobe Stock) Middle District Awards Over $1.3M to Shareholders in Dissenters' Rights Case Over Pre-Revenue Corporation
The case presented an unprecedented issue equivalent to determining "how much a reasonable person would likely pay to join a consortium of gamblers who want to pool their funds to buy lottery tickets for the possibility of winning the next big 'Power Ball' drawing," Judge Clay Land said.
January 02, 2024 at 05:40 PM
5 minute read
A federal judge awarded more than $1.3 million to plaintiffs in what might be the first trial dealing with Georgia's law on dissenters' rights in corporate transactions.
After a three-day bench trial in November, Judge Clay Land of the U.S. District Court for the Middle District of Georgia determined that the fair value of a biotech startup was more than $21.3 million, amounting to 56 cents per share.
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