In Case 20.4 Jones v.H.F.Ahmanson & Co.(1996) ,the court ruled that the majority shareholders who transferred their shares to a holding corporation,then took it public without allowing the minority to exchange their shares,breached their fiduciary duty to the minority shareholders.What did the court award to the minority shareholders in the way of damages?
A) The court awarded damages that would place the minority shareholders in a position at least as favorable as the position the majority shareholders had created for themselves.
B) The court awarded the majority shareholders' shares to the minority shareholders.
C) The court restored the company to its former nonpublic status and granted the issuance of enough shares given to minority shareholders to collectively make them a majority shareholder.
D) The court instructed the company to create a number of new board seats to represent minority shareholders equal to the number of board members representing majority shareholders.
Correct Answer:
Verified
Q47: The duty of _ requires officers to
Q48: _ occurs when a raider acquires stock
Q49: Even when the board makes an informed
Q50: What is a poison pill? What factors
Q51: In a _,someone wishing to replace the
Q53: Which of the following provides procedural fairness
Q54: In CASE 20.3 In re Abbott Laboratories
Q55: A shareholder who owns sufficient shares to
Q56: What is a no-shop agreement?
A) An agreement
Q57: A contractual provision insisted upon by a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents