Opinion ID: 197597
Heading Depth: 1
Heading Rank: 3

Heading: Chesterton's Counterclaim for Relief Under 156B

Text: 37 Finally, Chesterton appeals the district court's denial of his claim for relief under Mass. Gen. Laws ch. 156B. Chesterton argues that even if the district court properly determined that the Subchapter S election impliedly restricted the shareholders' rights to transfer their stock to a corporation, he is now entitled to notice and to the exercise of his dissenter's rights under 156B. He asserts that the district court's decision is the first notice of the restriction that he has had, and that under 156B he is now entitled to dissent from the restriction and enforce his appraisal rights. Chesterton's claim to 156B appraisal rights fails for the same reason that his general 156B argument fails: that provision is not triggered by this situation. The district court correctly denied Chesterton's misdirected claim to 156B appraisal rights. 38 The decision of the district court is affirmed.