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LINK v. L.S.I., INC.

Nos. 25525, 25610.

793 N.W.2d 44 (2010)

2010 S.D. 103

Jay E. LINK, Plaintiff and Appellant, v. L.S.I., INC., a South Dakota Corporation, John E. Link, Troy J. Link, John A. Hermeier, Lawrence J. Jarvela, Terry L. Smith, Douglas Walz and John Doe Defendants 1-5, Defendants and Appellees. Jay E. Link, Plaintiff and Appellee, v. L.S.I., Inc., a South Dakota Corporation, John E. Link, Troy J. Link, John A. Hermeier, Lawrence J. Jarvela, Terry L. Smith, Douglas Walz and John Doe Defendants 1-5, Defendants and Appellants.

Supreme Court of South Dakota.

Decided December 29, 2010.

Attorney(s) appearing for the Case

Jon C. Sogn , Lee A. Magnuson , Dana Van Beek Palmer of Lynn, Jackson, Shultz and Lebrun, PC, Sioux Falls, South Dakota, Attorneys for plaintiff and appellant Jay E. Link (#25525), For Appellee (# 25610).

Brian Keenan , Michael J. Aprahamian of Foley & Lardner, LLP, Milwaukee, Wisconsin, Attorneys for plaintiff and appellant Jay E. Link (# 25525), for Appellee (# 25610).

Tim R. Shattuck of Woods, Fuller, Shultz & Smith, PC, Sioux Falls, South Dakota, Attorneys for defendants and appellants, L.S.I., Inc., et al. (#25610), for Appellee (# 25525).

Brian P. Norton , Michael D. Freeborn , Michael P. Kornak , Andrew C. Nordahl of Freeborn & Peters, LLP, Chicago, Illinois, Attorneys for defendants and appellants, L.S.I., Inc., et al. (# 25610), for Appellee (# 25525).

GILBERTSON, Chief Justice.

[¶ 1.] Jay Link petitioned for judicial dissolution of L.S.I., Inc. (LSI). The circuit court denied the petition and granted LSI's petition to buy out Jay's shares at a "fair value." Jay appeals the valuation of his shares, the condition of the payments, and the dismissal of his remaining claims. We affirm in part, reverse in part, and remand. LSI filed a later appeal, challenging the interest awarded on the buy-out. We conclude the...

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