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MACLARY v. PLEASANT HILLS

109 A.2d 830 (1954)

Harry W. MACLARY, Alfred S. Maclary and Ella Mae Maclary, Plaintiffs, v. PLEASANT HILLS, Inc., a corporation of the State of Delaware, Robert P. Maclary, Bessie M. Donovan, Emma S. Maclary, Rebecca M. Turner, Edith C. Maclary and Clarence P. Donovan, Defendants.

Court of Chancery of Delaware, New Castle.

December 6, 1954.

Attorney(s) appearing for the Case

William Poole (of Berl, Potter & Anderson), and Abraham Hoffman, Wilmington, for plaintiffs.

Albert W. James, and Henry van der Goes (of Morris, James, Hitchens & Williams), Wilmington, for individual defendants.

Edward W. Cooch, Jr., Wilmington, for defendant corporation, Pleasant Hills, Inc.

SEITZ, Chancellor.

This is the decision after final hearing in a stockholders' derivative action seeking:

1. Cancellation of certain stock;

2. The recovery of an alleged illegal loan from the corporation to a director;

3. The recovery of certain real estate obtained by some of the individual defendants from the corporation for an inadequate consideration, or in lieu thereof repayment of the difference in value. Plaintiffs also seek to recover...

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