Business & Tech
Lunds & Byerlys Dispute: Lund Sibling Awarded Millions
The Lunds & Byerlys dispute began when Kim Lund sued Lunds and its CEO, which happened to be her brother, Russell Lund III.
TWIN CITIES, MN — A judge has awarded Kim Lund $45.2 million for her holding in the Twin Cities Lunds & Byerlys grocery chain. The decision came after a bitter dispute between Kim and the other Lund siblings. Kim is the oldest of four siblings who own Lunds & Byerlys equally.
The dispute began when Kim sued Lunds and its CEO to cash out of the popular grocery chain. The CEO is her brother, Russell "Tres" Lund III. The move lead to a trial in February where all four Lund siblings testified.
On Friday, Hennepin County Chief Judge Ivy Bernhardson ruled that Kim had won the lawsuit, the Star Tribune reported:
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However, Bernhardson rejected valuations of Lunds & Byerlys made by experts for both Kim Lund and Lunds Inc. and sort of split the difference.
Kim Lund would receive $2.3 million of the award — 5 percent — within 90 days of a final, non-appealable order. The rest will be paid over 20 years through a note that bears 2.75 percent annual interest. Kim Lund has previously said she would be amenable to a long-term payout.
Read much more at the Star Tribune.
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