Hernandez v. United States

Approximately two hundred and fifty former minority stockholders of Schenley Industries, Inc., whose rights as stockholders have been abolished (except for their right to have their shares of stock appraised) as a result of the June 17, 1971 merger here complained of, now seek a review of an appraisal of their shares made by a Court-appointed appraiser. Such stockholders having made timely and otherwise adequate objection to such merger as well as a correct demand for payment for their shares, thus qualified for such appraisal. They have now filed exceptions to the appraisers final report, claiming that the values fixed by him were too low. Schenley has also excepted to such appraisal, contending that the appraisers fixing of values for its minority stock here in issue was too high.