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EMC INS. GROUP, INC. v. SHEPARD

No. 20-0698.

960 N.W.2d 661 (2021)

EMC INSURANCE GROUP, INC., Appellee, v. Gregory M. SHEPARD, Appellant.

Supreme Court of Iowa.

Filed June 11, 2021.

Attorney(s) appearing for the Case

Thomas K. Cauley, Jr. (argued), Sidley Austin LLP, Chicago, Illinois, and Steve Eckley of Eckley Law PLLC, Des Moines, for appellant.

Beth I.Z. Boland (argued), Eric G. Pearson , and Joseph S. Harper of Foley & Lardner, LLP, Boston, Massachusetts, and Michael W. Thrall , Mark C. Dickinson , and Lynn C. Herndon of Nyemaster Goode, P.C., Des Moines, and for appellee.

Stephen E. Doohen of Whitfield & Eddy, P.L.C., Des Moines, and Gregg M. Mashberg , Margaret A. Dale , and Brian A. Hooven of Proskauer Rose LLP, New York, New York, for amicus curiae The Depository Trust Company.

Waterman, J., delivered the opinion of the court, in which all justices joined.

In this appeal, we must decide whether the district court correctly entered summary judgment against an investor on grounds he failed to exercise his appraisal rights in a merger. The controlling statute, Iowa Code section 490.1303(2)(a) (2019), requires a beneficial shareholder to submit the written consent of "the record...

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