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GLADSTONE v. BENNETT

153 A.2d 577 (1959)

Billie GLADSTONE, Appellant, v. Louis W. BENNETT et al., Appellees. Lottie SPIEGEL, Appellant, v. Louis W. BENNETT et al., Appellees. Bernard WEAFER, Appellant, v. Stanley Lloyd KAUFMAN et al., Appellees.

Supreme Court of Delaware.

July 24, 1959.

Attorney(s) appearing for the Case

Clarence W. Taylor and Russell J., Willard, Jr., of Hastings, Taylor & Willard, Wilmington, for appellant Billie Gladstone.

William E. Taylor, Jr., Wilmington, for appellant Lottie Spiegel.

Sidney Balick, Wilmington, for appellant Bernard Weafer.

James R. Morford, Morford, Young & Conaway, Wilmington, and Milton Paulson, New York City, for plaintiffs below — appellees.

David F. Anderson, of Berl, Potter & Anderson, Wilmington, and Orrin G. Judd, of Goldstein, Judd & Gurfein, New York City, for Eastman Dillon Union Securities Co., defendant below — appellee.

Robert H. Richards, Jr., of Richards, Layton & Finger, Wilmington, for corporate defendants below — appellees, Sunray Mid-Continent Oil Co. and Subsidiaries.

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

BRAMHALL, Justice.

We are concerned in this appeal with the question of whether the action of the Vice Chancellor in approving the proposed settlement between certain stockholders of Sunray Mid-Continent Oil Company (Sunray) in a derivative action brought on behalf of Sunray and certain of its wholly or partly owned subsidiaries against Eastman Dillon Union Securities Company (Eastman Dillon) and its partners and the individual...

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