"The court finds that in this case where AAM and English have attributes similar in nature to a closely held corporation and a controlling majority shareholder, respectively, another exception to the general rule applies."
Such price differences may be due to differences in the private company securities (e.g., voting stock versus non-voting stock) or differences in the size of the block of closely held corporation stock.
Courts analogize these duties to those owed within a statutorily created closely held corporation. (11) While there is no standard set of attributes, certain characteristics distinguish closely held corporations from their publicly traded counterparts.
For instance, suppose a shareholder who owns 49 percent of the shares in a closely held corporation with a value of $2 million is faced with a "squeeze out" by the majority owner and petitions to dissolve the corporation pursuant to Florida's dissolution statute.