Judge awards Kim Lund $45.2 million in Lunds & Byerlys dispute
(KMSP) - A judge awarded a member of the Lund family more than $45 million in a dispute regarding her ownership stake in the Lund's & Byerlys grocery chain companies.
The judge found Kim Lund to be the "prevailing party," awarding her $45,225,000, plus court costs. That amount is more than $24 million more than the companies claimed her ownership interests were worth. They originally had offered her about $21 million when she first wanted to cash out her interest in the company.
The Court also removed Tres Lund as Kim's trustee.
Kim Lund Statement:
“I have always believed that privilege and wealth are community resources that should be used to lift all boats. My grandparents taught us that giving back to the community was our responsibility and our great joy. This has been my life’s work. I sincerely appreciate the Judge’s efforts and hope that my brother Tres will accept the Court’s decision so that the companies and our family can move on and get back to the work that benefits the community.”
Lunds & Byerlys Statement:
"We are currently in the process of reviewing the judge’s decision and determining our next steps. We have made, and will continue to make, every decision in this process with the utmost integrity,
respect, and fiscal responsibility. We owe that to our company’s extended family of employees and
customers."