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SJC rejects court-imposed ‘buy-out’ of minority shareholder

The Massachusetts Supreme Judicial Court recently overturned a court-ordered buy-out of a minority shareholder’s interest in a closely held business, saying it was not an appropriate remedy for a “freeze-out” by the controlling shareholder group. The trial court’s equitable “buy-out” remedy had been affirmed by the Massachusetts Appeals Court in May 2006, but the SJC saw ...

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