The state Supreme Court stepped into a years-long family dispute involving one of the world's largest beef jerky companies Tuesday, when the son of the Wisconsin company's founder asked justices for a better valuation of a South Dakota subsidiary.
Jay Link, a son of Link Snacks Inc. founder Jack Link, contends that a circuit judge undervalued his shares of LSI Inc. when he ruled they were worth $16.55 million.
Attorney Jon Sogn asked the South Dakota Supreme Court on Tuesday to direct that Jay Link's shares of LSI be purchased for $21 million or order a new trial to set the shares' value.
Sogn argued that the circuit judge mistakenly discounted the value because of the risks to an outside buyer. Appraisers had said a third-party buyer would be leery of investing in a privately held company that sells to only one customer, corporate parent Link Snacks.