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BEARD v. ELSTER

160 A.2d 731 (1960)

M. Gould BEARD et al., who were sued with American Airlines, Inc., et al., Defendants-below, Appellants, v. William ELSTER and Ray Wolf, Plaintiffs-below, Appellees.

Supreme Court of Delaware.

Petition for Reargument Denied May 13, 1960.

Attorney(s) appearing for the Case

E. N. Carpenter, II, and William E. Wiggin, of Richards, Layton & Finger, Wilmington, for appellants.

Richard F. Corroon, of Berl, Potter & Anderson, Wilmington, for American Airlines, Inc.

William E. Taylor, Jr., Wilmington, Abraham L. Pomerantz and William E. Haudek, of Pomerantz, Levy & Haudek, New York City, of counsel, for appellees.

SOUTHERLAND, Chief Justice, WOLCOTT, Justice, and TERRY, President Judge, sitting.

WOLCOTT, Justice.

This is an appeal from a judgment of the Court of Chancery of New Castle County denying the motions of the defendants for summary judgment. The individual defendants, optionees under restricted stock option plans, appeal.

At the annual stockholders meeting in 1950 of American Airlines, Inc., a restricted stock option plan for the benefit of employees covering 250,000 shares was approved. Pursuant...

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