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McCALLUM v. ROSEN'S DIVERSIFIED, INC.

No. 97-2246.

153 F.3d 701 (1998)

William B. McCALLUM, Plaintiff-Appellant, v. ROSEN'S DIVERSIFIED, INC., a Minnesota Corporation, Defendant-Appellee, Ludwig M. Rosen, individually; Elmer H. Rosen, individually; Thomas J. Rosen, individually; Rosen's Diversified, Inc., sued as "Rosen's Diversified, Inc. Employee Stock Ownership Plan and Trust"; Ludwig M. Rosen; Elmer H. Rosen; Thomas J. Rosen; Richard Rosen; Robert Hovde; Jane Doe; David Roe; Sally Roe, whose true and correct names are unknown but who are, upon information and belief Administrators, Fiduciaries and Trustees of the Rosen's Diversified, Inc., Employee Stock Ownership Plan and Trust; Steven Roe; Roe Corporation, whose true and correct names are unknown as named fiduciaries of the Rosen's Diversified, Inc. Employee Stock Ownership Plan and Trust, Defendants.

United States Court of Appeals, Eighth Circuit.

Decided August 19, 1998.

Rehearing and Suggestion for Rehearing Denied September 30, 1998.

Attorney(s) appearing for the Case

Karl L. Cambronne, Minneapolis, MN, argued (Becky L. Erickson and Matthew B. Newman, on the brief), for Plaintiff-Appellant.

David L. Hashmall, Minneapolis, MN, argued, for Defendant-Appellee.

Before BEAM, ROSS, and MAGILL, Circuit Judges.

Rehearing and Suggestion for Rehearing En Banc Denied September 30, 1998.

BEAM, Circuit Judge.

William B. McCallum, a minority shareholder in Rosen's Diversified, Inc. (RDI), appeals from two adverse grants of summary judgment. McCallum seeks to have his shares in RDI redeemed for fair value pursuant to a court ordered buy-out. The district court held that McCallum failed to present evidence showing that RDI acted unfairly prejudicial toward him. We reverse...

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