Hillerich & Bradsby has filed a lawsuit in a dispute over the value of more than 2,000 shares of its stock,
WDRP-TV reported.
The family-controlled company has agreed to be acquired by Wilson Sporting Goods Co. in a deal worth $70 million.
Hillerich & Bradsby has filed a lawsuit in a dispute over the value of more than 2,000 shares of its stock,
WDRP-TV reported.
The family-controlled company has agreed to be acquired by Wilson Sporting Goods Co. in a deal worth $70 million.
The suit, filed in Jefferson Circuit Court in Kentucky, contends that the fair market value of each share is $90, based on an appraisal by Hilliard Lyons, a Louisville investment firm, immediately before the sale closed in April, the article said.
In July, seven former shareholders — four members of the Schoen family and three shareholders from the Wenig family of El Dorado Hills, Calif. — claim that their shares are worth much more. The Schoens, whose ties to H&B dates to the 1920s, contend that their 1,150 shares are worth at least $700 each, and the Wenigs say their 1,000 shares are worth $300 each, the report said.
H&B also wants the court to determined that the Wenigs missed a deadline to notify the company of their estimates and thus “waived their right to demand payment,” the article said. (Source: WDTB-TV, Sept. 24, 2015.)
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