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OAKRIDGE ENERGY, INC. v. CLIFTON

No. 960049.

937 P.2d 130 (1997)

OAKRIDGE ENERGY, INC., Plaintiff and Appellee, v. Martin Taylor CLIFTON, Thomas A. Clifton, Thomas A. Clifton Jr., James A. Ruffalo, Nancy J. Sullivan, Defendants and Appellants.

Supreme Court of Utah.

April 18, 1997.

Attorney(s) appearing for the Case

Eric C. Olson, Salt Lake City, for plaintiff.

R. Willis Orton, Gregory N. Jones, Salt Lake City, for defendants.

HOWE, Justice:

Shareholders dissenting from a sale of corporate assets appeal from the trial court's judgment that, for purposes of the statute giving them a right to appraisal and payment, the "fair market value" of their shares equals the stock market price. We must decide the proper basis for stock valuation under Utah Code Ann. § 16-10a-1302 (1995).

FACTS

Oakridge Energy, Inc., a Utah oil and gas...

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