A Nebraska judge has determined that a biotech company seeking to purchase the shares of a trust established by its founder must pay $467 million for those shares, in what counsel for the plaintiffs say is one of the largest valuation disputes in the state court’s history.
On Tuesday, a judge from the District Court of Sarpy County, Nebraska, found that the Wayne L. Ryan Revocable Trust owned $467 million of the fair market value of the biomedical company Streck Inc., and that the trust was entitled to 12% prejudgment interest starting in late 2014. The ruling assigned more than $300 million over the defense’s competing valuation.
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