Louis S. NADLER, Sophie G. Nadler, Harry Krieger, Pearl S. Krieger, Rose S. Golomb, Molly Golomb and Eva Myra Epstein, Plaintiffs,
v.
BETHLEHEM STEEL CORPORATION, Donald T. Aikenhead, James P. Bender, Norborne Berkeley, Frank R. Brugler, Stewart J. Cort, Harry C. Crawford, Eugene G. Grace, Keenan L. Griffith, Arthur B. Homer, Jesse V. Honeycutt, Paul S. Killian, Joseph M. Larkin, Robert E. McMath, Arthur F. Peterson, Daniel D. Strohmeier, Russell K. Branscom, Bernard D. Broeker, Paul B. Entrekin, Francis M. Huffman, William H. Johnstone, Ivor D. Sims, Edmund F. Martin and Talbot Shelton, Defendants.
Court of Chancery of Delaware, New Castle.https://leagle.com/images/logo.png
August 26, 1959.
On Reargument September 16, 1959.
Attorney(s) appearing for the Case
William E. Taylor, Jr., Wilmington, and Nathan B. Kogan, New York City, for plaintiffs.
Robert H. Richards, Jr. (of Richards, Layton & Finger), Wilmington and Albert R. Connelly (of Cravath, Swaine & Moore), New York City, for defendants.
Joseph T. Walsh (of Logan, Marvel, Boggs & Theisen), Wilmington, and Mortimer A. Shapiro, New York City, for objectants, Henry Schwartz and Dorothy Schwartz.
Abraham Hoffman, Wilmington, and Abraham I. Markowitz, New York City, for objectant, Jerome G. Rose.
Irving Morris (of Cohen & Morris), Wilmington, and Martin Horwitz, New York City, for objectants, Shirley Krieger and Benjamin Richland.
Irwin M. Taylor (of Kaufman, Taylor & Kimmel), New York City, for objectant, Irving Miller.
Court of Chancery of Delaware, New Castle.
MARVEL, Vice Chancellor.
The complaint1 in this case, as amended on September 27, 1957, charged the individual defendants with breaches of fiduciary duty as directors and officers of the corporate defendant or of its subsidiaries in allegedly causing excessive corporate salaries and other forms of compensation to be paid to themselves and other employees of Bethlehem during the years 1954 through 1956. While plaintiffs' attack is directed...
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