- 14 - not yet finished its report as of June 16, 1994. As discussed infra, the sellers also testified in this Court that they did not see the report before selling their stock. That testimony speaks loudly to the fact that they were not knowledgeable sellers who aimed to realize the fair market value of their stock. Ms. Branch testified: Q Would it be fair to say that at the time of your sale of your Seminole stock you did not know its precise value? A No. I mean-- Q It would be fair to say that you didn't know its value? A No, I had no idea what the value was. It's a family business. How are you going to know what the value of a family business is? * * * * * * * Q Ms. Branch, at the time of the sale of your Seminole stock, do you have any recollection as to whether the--as to whether you had a valuation report for Seminole--for your Seminole stock? A I did not get the Merrill Lynch report that's mentioned in here, no. Q So you never had the Merrill Lynch report. A No, but the letter quoted Merrill Lynch as having appraised the stock at that price. THE COURT: Which letter are you talking about? THE WITNESS: The one from Max offering to buy my shares. * * * * * * *Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
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