COYNE v. PARK & TILFORD DISTILLERS CORPORATION


154 A.2d 893 (1959)

Maurice COYNE et al., Plaintiffs Below, Appellants, v. PARK & TILFORD DISTILLERS CORPORATION and Schenley Industries, Inc., both Delaware corporations, Defendants Below, Appellees.

Supreme Court of Delaware.

October 29, 1959.


Attorney(s) appearing for the Case

H. James Conaway, Jr., of Morford, Young & Conaway, Wilmington, for appellants.

Aaron Finger, of Richards, Layton & Finger, Wilmington, for appellee Schenley Industries, Inc.

SOUTHERLAND, C. J., and WOLCOTT and BRAMHALL, JJ., sitting.


SOUTHERLAND, Chief Justice.

This is a stockholders' attack on the legality of a corporate merger.

Prior to March 26, 1958, Schenley Industries, Inc., a Delaware corporation, owned 242,742 (more than 96%) of the 252,328.61 shares of Park & Tilford Distillers Corporation, another Delaware corporation. On that date Park was merged into Schenley by resolution of Schenley's board of directors, adopted pursuant to the...

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