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PUMA v. MARRIOTT

283 A.2d 693 (1971)

John PUMA, Plaintiff, v. J. Willard MARRIOTT et al., Defendants.

Court of Chancery of Delaware, New Castle.

October 20, 1971.

Attorney(s) appearing for the Case

Ernest S. Wilson, Jr., Wilmington, Stanley L. Kaufman, Shephard S. Miller and Allan K. Peckel, of Kaufman, Taylor, Kimmel & Miller, New York City, for plaintiff.

David F. Anderson, of Potter, Anderson & Corroon, Wilmington, and Burton A. Schwalb, of Arent, Fox, Kintner, Plotkin & Kahn, Washington, D. C., for certain individual defendants.

Henry M. Canby, of Richards, Layton & Finger, Wilmington, and Frank H. Strickler, of Whiteford, Hart, Carmody & Wilson, Washington, D. C., for Marriott Corp. and certain individual defendants.

SHORT, Vice Chancellor.

This is a stockholder's derivative action which challenges the fairness of a transaction entered into by Marriott Corporation (Marriott), a Delaware corporation, whereby Marriott, in exchange for 313,000 shares of its common stock, acquired all of the stock of six corporations principally owned by members of the Marriott family. Defendants are those members of the Marriott family and others (Marriott...

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