MINNEAPOLIS (WCCO) — A judge has awarded Kim Lund over $45 million, plus court costs, for her ownership in the Lund companies after a court dispute with her three other siblings.
The dispute began when Kim Lund decided to cash out of the company. When she was offered $21.3 million, she subsequently sued the company and its CEO, her brother Tres Lund.
In the judge’s recent decision, however, Kim Lund was found to be the prevailing party and was awarded $45.225 million plus court costs. That’s over $24 million than she was offered.
“In an equally important decision, the Court removed Tres Lund as Kim’s trustee. This outcome confirms Minnesota’s long-standing protection of family business owners from unfair treatment,” Kim Lund’s attorney, Janel M. Dressen, said.
Kim Lund released a statement responding to the decision:
“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 also released a statement following the decision:
“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.”