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BRUCE v. E. L. BRUCE COMPANY

174 A.2d 29 (1961)

C. Arthur BRUCE and Eleanor K. Bruce, Plaintiffs, Harry Walter Voege and Anna May Tunmore as Trustees under the Last Will and Testament of Harry W. Voege, deceased, and Ida May Voege, Intervening Plaintiffs, v. E. L. BRUCE COMPANY, a Delaware corporation, and Empire National Corporation, a New York corporation, Defendants.

Court of Chancery of Delaware, New Castle.

September 19, 1961.

Attorney(s) appearing for the Case

Alexander L. Nichols of Morris, Nichols, Arsht & Tunnell, Wilmington, and Macleish, Spray, Price & Underwood, Chicago, Ill., for plaintiffs.

Arthur G. Logan, of Logan, Marvel & Boggs and Aubrey B. Lank, of Theisen & Lank, Wilmington, for intervening plaintiffs.

James T. McKinstry, of Richards, Layton & Finger, Wilmington, and Robert N. West of Shearman & Sterling, New York City, for defendant, E. L. Bruce Co.

MARVEL, Vice Chancellor.

Plaintiffs together own or are beneficially interested in 5% of the issued and outstanding common stock of E. L. Bruce Company. C. Arthur Bruce is chairman of the Bruce board of directors and has been a shareholder and director of such corporation since 1922. Plaintiffs sue allegedly for the benefit of the Bruce stockholders, and at the argument yesterday additional parties plaintiff were permitted...

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