Goles v. Sawhney

(California Court of Appeal) – In an appeal from an order specifying the buyout value of plaintiffs’ 36.7% minority shareholder interest in Katana Software, Inc. pursuant to Corporations Code section 2000(c), is reversed where: 1) the order is an alternative decree which is appealable pursuant to section 2000(c), under Cotton v. Expo Power Systems, Inc. (2009) 170 Cal.App.4th 1371, 1380; and 2) the trial court undervalued their shares when it ‘confirmed’ three disparate court-ordered appraisals and averaged the appraisals to determine the fair value of the company.