In Lawson Mardon Wheaton, Inc. v. Smith, 160 N.J. 383, 734 A.2d 738 (1999), the issue was whether a marketability discount should be applied in determining fair value in a statutory appraisal action pursuant to N.J.S.A. 14A:11-1 to -11. The Court held that absent the presence of "extraordinary circumstances," such as where the dissenting shareholder has held out in order to exploit the transaction giving rise to the appraisal, the marketability discount should not be applied because to do so would enrich the majority shareholders and penalize the minority shareholders for taking advantage of the protection afforded by the appraisal statute and would inevitably encourage corporate "squeeze-outs." Lawson Mardon Wheaton, supra, 160 N.J. at 402-04, 734 A.2d 738. The Supreme Court reversed in Lawson Mardon Wheaton, Inc. v. Smith, holding that the trial court erred by refusing to reopen the record to consider the per share acquisition price of the company in 1996 to "gauge, assess, and determine" the fair value of the dissenters' stock on the December 1991 valuation date. The acquisition price was relevant since the company asserted that the fair value of the dissenters' stock was $ 41.50 per share in December 1991, while the 1996 acquisition price was $ 63.00 per share, even though the company's fortunes had steadily deteriorated between 1991 and 1996. Id. at 406, 734 A.2d 738. Thus, as the Court noted: "the Company's own financial statements disclose that the fair value of the Company was greater in 1991 than in 1996." Id. at 405, 734 A.2d 738. Therefore, because the company's fortunes had waned during the 1991 to 1996 period, and in light of the 1996 per share sales price, the Court questioned the company's assertion that the fair value of the dissenters' stock in 1991 was worth only $ 41.50 per share. Id. at 407, 734 A.2d 738.