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FMB BANKSHARES, INC. v. HAJEK

No. 22604.

668 N.W.2d 715 (2003)

2003 SD 103

FMB BankSHARES, INC., Plaintiff and Appellee, v. Douglas J. HAJEK, Defendant and Appellant.

Supreme Court of South Dakota.

Decided August 20, 2003.

Attorney(s) appearing for the Case

John S. Theeler of Morgan, Theeler, Wheeler, Cogley & Petersen, Mitchell, South Dakota, Attorneys for plaintiff and appellee.

Steven W. Sanford of Cadwell, Sanford, Deibert & Garry, Sioux Falls, South Dakota, Attorneys for defendant and appellant.

STEELE, Circuit Judge.

[¶ 1.] Douglas J. Hajek (Hajek) appeals a trial court judgment directing him to sell bank stock that he owns back to FMB BankShares, Inc. (FMB), his former employer. We reverse and remand.

FACTS AND PROCEDURAL HISTORY

[¶ 2.] Hajek, a Sioux Falls lawyer with a banking background, was the sole shareholder of Bankers Resources, Inc. (BRI), a holding company. In November 1997...

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