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PILLSBURY CO. v. ELSTON

No. 49032.

283 N.W.2d 370 (1979)

The PILLSBURY COMPANY, Respondent, v. Allan ELSTON, Appellant.

Supreme Court of Minnesota.

Rehearing Denied August 21, 1979.

Attorney(s) appearing for the Case

Grossman, Karlins, Siegel & Brill and Sheldon D. Karlins and Donna Wolfson, Minneapolis, for appellant.

Faegre & Benson and Lawrence Brown, Minneapolis, for respondent.

Heard before PETERSON, KELLY, and YETKA, JJ., and considered and decided by the court en banc.

PETERSON, Justice.

The present case involves an action by plaintiff, The Pillsbury Company, against defendant, Allan Elston, a former vice president of Pillsbury. Pillsbury claims the right to repurchase 1,425 shares of its common stock at the option price paid by Elston, who acquired the shares pursuant to Pillsbury's Qualified Stock Option Plan. Elston appeals from the trial court's judgment holding that Pillsbury has an enforceable option to repurchase the shares...

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