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HEALY v. GEILFUSS

146 A.2d 5 (1958)

T. Donald HEALY, T. Donald Healy and Anne M. Murphy, co-executors under the Will of Thomas M. Healy, and Katherine S. Healy, guardian ad litem for Margaret Healy, T. Donald Healy, Jr., and Donna Anne Healy, Plaintiffs, v. Ogden A. GEILFUSS, J. O. Shuford, Guy M. Babst, Jesse Draper, A. F. Ibby, Jr., Granger Hansell, B. Earle Yancey, Sr., and Tracy C. Weltmer, and Ogden A. Geilfuss, M. R. Clary and Granger Hansell, as Trustees under a Voting Trust Agreement executed February 23, 1956 known as the Columbia Baking Company Voting Trust Agreement, and Phoenix, Inc., a Georgia corporation, and Columbia Baking Company, a Delaware Corporation, Defendants.

Court of Chancery of Delaware, New Castle.

November 14, 1958.

Attorney(s) appearing for the Case

George T. Coulson, of Morris, Nichols, Arsht & Tunnell, Wilmington, and Milton Schilback, New York City, for plaintiffs.

Arthur G. Logan, of Logan, Marvel, Boggs & Theisen, Wilmington, for defendants other than Guy M. Babst and Tracy C. Weltmer.

MARVEL, Vice Chancellor.

Plaintiffs, who are either stockholders or representatives of stockholders of a corporation formerly known as Columbia Baking Company,1 have brought this derivative action for the benefit of that corporation, naming as the real defendants the directors of Columbia, the trustees of a voting trust of Columbia common stock, and Phoenix, Inc., a Georgia corporation. The complaint charges that the director defendants...

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