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KORS v. CAREY

158 A.2d 136 (1960)

Bertha KORS, Plaintiff, v. Paul CAREY, James M. Boohecker, Chandler Cudlipp, David M. Freudenthal, James W. Newman, Edward Plaut, Walter N. Plaut, Walter E. Sachs, B. A. Tompkins, United Whelan Corporation and Lehn & Fink Products Corporation, Defendants.

Court of Chancery of Delaware, New Castle.

February 18, 1960.

Attorney(s) appearing for the Case

William E. Taylor, Jr., Wilmington, and Louis Kipnis, New York City, for plaintiff.

Robert H. Richards, Jr., of Richards, Layton & Finger, Wilmington, and Patterson, Belknap & Webb, New York City, for defendant, Lehn & Fink Products Corp., and the individual defendants.

Berl, Potter & Anderson, Wilmington, and William M. Kaplan, New York City, for defendant, United Whelan Corp.

MARVEL, Vice Chancellor.

The complaint herein as amended not only charges the directors of Lehn & Fink Products Corporation with the allegedly improper act of using corporate rather than personal funds for the purchase of 60,200 shares of Lehn & Fink stock from United Whelan Corporation as well as the separate corporate act of purchasing the assets of National Laboratories, Inc. at an excessive price, but also complains of collusive dealings between representatives...

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