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IN RE SEMINOLE OIL & GAS CORPORATION

Civil Action Nos. 986, 1013.

150 A.2d 20 (1959)

In the Matter of SEMINOLE OIL & GAS CORPORATION. Leah SACHS, Plaintiff, v. SEMINOLE OIL & GAS CORPORATION, a Delaware corporation, Milestone Drilling Company, a corporation, John Addison, Geraldine L. Doran, Herschel Greenbaum, Harry D. Mencher, Susan A. Shotwell, Hugh P. Mullen, Herbert Williams, James H. R. Cromwell and Robert K. Berry, Defendants.

Court of Chancery of Delaware, New Castle.

On Motion for Stay March 3, 1959.

Attorney(s) appearing for the Case

Arthur G. Logan and Aubrey B. Lank (of Logan, Marvel, Boggs & Theisen), Wilmington, for plaintiff and petitioner.

Alexander L. Nichols and William S. Megonigal (of Morris, Nichols, Arsht & Tunnell), Wilmington, for appearing defendants other than Milestone Drilling Co.

William H. Foulk, Wilmington, for defendant Milestone Drilling Co.

SEITZ, Chancellor.

I first consider the exceptions of Management and of the Opposition to the Master's conclusion that the proxies solicited by both groups should be counted. Both Management and Opposition renew their contention that in soliciting proxies the opposing group was guilty of material misrepresentations.

The Master's report outlines the more important "misrepresentations" relied upon by the opposing factions. The Master then goes on to say that...

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