Emanuel Balsamides, Sr., Emanuel Balsamides, Jr. and Thomas Balsamides, Plaintiffs-Appellants v. Protameen…

Summary

The Supreme Court of New Jersey affirmed the Appellate Division’s rejection of a marketability discount in determining the fair value of Perle’s shares, upheld the trial court’s use of the excess earnings method and the 11% rate of return, but reversed and remanded for reconsideration of the 30% capitalization rate and for consideration of counsel‑fees award. The Court also clarified the meaning of “fair value” under the Oppressed Shareholder Statute.