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SCHIFF v. RKO PICTURES CORPORATION

136 A.2d 193 (1954)

Louis SCHIFF and Jacob Sacks, Plaintiffs, v. RKO PICTURES CORPORATION, Howard R. Hughes, Noah Dietrich, James R. Grainger, E. L. Walton, William H. Clark, Garrett Van Wagner, Charles Boasberg, J. Miller Walker and A. Dee Simpson, Defendants.

Court of Chancery of Delaware, New Castle.

March 5, 1954.

Attorney(s) appearing for the Case

Herbert L. Cobin, Wilmington, Halperin, Natanson, Shivitz & Scholer, and Hoffman, Bondi, Buchwald & Hoffman, New York City, for plaintiffs.

William S. Potter and Richard F. Corroon of Berl, Potter & Anderson, Wilmington and Roy W. McDonald of Donovan, Leisure, Newton, Lumbard & Irvine, New York City, for defendant, RKO Pictures Corp.

Robert C. Barab, Wilmington, and Nemerov & Shapiro, New York City, for Milton Friedman, intervening defendant.

Russell J. Willard, Jr., of Hastings, Stockly & Walz, Wilmington, and Israel Beckhardt, New York City, for Sidney Schwartz, proposed intervening plaintiff.

SEITZ, Chancellor.

I first consider the application of Sidney Schwartz, a stockholder of defendant corporation, to intervene either as a matter of right or as a matter of discretion under Chancery Court Rule 24, Del.C.Ann. Plaintiffs object and the corporation takes no position.

The applicant is the plaintiff in a New York action which in effect will be settled or at least disposed of if the transaction here involved is upheld. Since it must be assumed that...

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