Court Opinion

ID: 9691075
Source: CourtListenerOpinion
Date Created: 2023-08-24 20:06:54.854432+00
Date Added: 2024-06-11T18:19:09.675910
License: Public Domain

GREEN, Judge.
I concur with the foregoing opinion that the stock delivered to the employees had no fair market value or in fact any market value at all, because it could not be sold on the market without first giving the company an opportunity to purchase it at much less than the regular market price. When we speak of the market value of stock, we mean the selling price of stock upon which there are no restrictions as to the sale. Nor do I think that the plaintiff is entitled to a deduction in the amount of the book value of the stock, for the book value is not a measure of actual value. In determining the amount which the plaintiff lost by transferring the stock in question to certain employees, it seems to me that all we can gather from the evidence is that the plaintiff would lose at least the amount it was required to pay if it bought the stock back.