CA AB1680

Modified the valuation date for dissenting shares from "the day before the first announcement" to "the day of, and immediately prior to, the first announcement" of the proposed transaction, with adjustments for stock splits and dividends.

Eliminated the 5% threshold requirement that previously limited publicly traded shareholders' eligibility to receive fair market value for dissenting shares.

Expanded the definition of "dissenting shares" to include publicly traded shares when shareholders receive anything other than publicly traded shares of another corporation or cash in lieu of fractional shares.

Required dissenting shareholders to include a statement of claimed fair market value in their purchase demand, which constitutes an offer to sell shares at that stated price.

Made conforming changes to Sections 1300, 1301, 1302, 1304, and 1309 of the Corporations Code governing dissenting shareholder rights in reorganizations and short-form mergers.