Gregory Shepard appeals from the district court’s judgment in favor of EMC Insurance Group, Inc. (EMCI), following the parties’ motions for summary judgment. He argues: (1) the court erred when it determined he failed to exercise his right to an appraisal of his shares of EMCI at the time EMCI sought to buy-out minority shareholders because he did not obtain proper consent from the record shareholder; (2) the court erred when it determined The Depository Trust Company (DTC) was the record shareholder because the “records of the corporation,” including the “Cede Breakdown” obtained by EMCI, showed Morgan Stanley Smith Barney LLC held his EMCI shares; (3) EMCI waived its right to strict compliance with the appraisal statute; and (4) EMCI should be estopped from arguing he failed to comply with the Iowa Business Corporations Act.

County:

Polk