Richard L. Hubbell v. Sumner Anesthesia Associates, Inc., et al

Shareholder and employee of a professional corporation filed suit demanding payment of the fair value of his shares in the corporation following termination of his employment. The corporation subsequently tendered $760.48 to the Sumner County Clerk and Master, the amount it believed represented the fair value of the shareholder’s shares as of the date of his termination of employment with the corporation. The trial court granted summary judgment for the corporation finding the shareholder failed to contradict the corporation’s proposed fair value. Finding error, we reverse and remand the case for further proceedings.