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MATTER OF WEISS v. SUMMIT ORG., INC.

80 A.D.2d 526 (1981)

In the Matter of Marvin Weiss, as a Shareholder in The Summit Organization, Inc., Appellant, v. Summit Organization, Inc., et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

February 19, 1981

Petitioner owns 900 shares in the Summit Organization, Inc. The board of directors of Summit authorized a merger of Nusum, Inc., into the Summit Organization, Inc., with Summit being the surviving corporation. As a result of the merger, Summit's status would be changed from a publicly held corporation to a privately held corporation. Petitioner dissented from the planned merger and was dissatisfied with the corporation's offer respecting the fair value of his shares. Under...

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