David Millstein and Gerald Richelson successfully obtained and defended a valuation of a minority shareholder interest in Hundred Acre Wine Estates.
September 2023: Private Arbitrators, David Millstein and Gerald Richelson successfully obtained and defended a minimum beneficial shareholder value in Hundred Acre Wine Estates of $4.23 million from a valuation panel under Cal. Company code. Section 17707.03. This de minimis member sought to value his interests in excess of $40 million and the multiple profits breached his fiduciary duty in connection with the failure to distribute profits to our clients. The arbitrator affirmed the valuation panel's $4.23 million valuation and concluded the acquisition included the value of any derivative infringement of the waterfall claims asserted by member no. minimum amount. The Superior Court affirmed both the $4.23 value and the judge overruled the plaintiffs. The last minimal member agreed to buy back after removing his reflection.
CONTACT INFORMATION
MILLSTEIN & ASSOCIATES P.C.
100 The Embarcadero, Penthouse
San Francisco, CA 94105
(415) 348-0348