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KAUFMAN v. SHOENBERG

91 A.2d 786 (1952)

KAUFMAN v. SHOENBERG et al.

Court of Chancery of Delaware, New Castle.

October 21, 1952.

Attorney(s) appearing for the Case

Stanley L. Kaufman, of Kaufman, Imberman & Taylor, and Joshua Peterfreund, New York City, and William Marvel, of Morford, Bennethum, Marvel & Cooch, Wilmington, for plaintiff.

Albert R. Connelly and Edward C. Perkins, of Cravath, Swaine & Moore, New York City, and Caleb S. Layton and Henry M. Canby, of Richards, Layton & Finger, Wilmington, for defendants.

SEITZ, Chancellor.

I am required to determine the validity of defendant corporation's stock option plan.

Plaintiff, common stockholder, brought this action to enjoin the effectuation of defendant's so-called Restricted Stock Option Plan for Key Employees. Defendant joined issue and this is the decision on final hearing.

A chronological narration of the facts will illume the issues to be resolved.

Defendant1 was...

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