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ELSTER v. AMERICAN AIRLINES, INC.

167 A.2d 231 (1961)

William ELSTER and Ray Wolf, Plaintiffs, v. AMERICAN AIRLINES, INC., C. R. Smith and O. M. Mosier, Defendants.

Court of Chancery of Delaware, New Castle.

January 6, 1961.

Attorney(s) appearing for the Case

William E. Taylor, Jr., Wilmington and William E. Haudek of Pomerantz, Levy & Haudek, New York City, for plaintiffs.

Richard F. Corroon of Berl, Potter & Anderson, Wilmington, and Debevoise, Plimpton & McLean, New York City, for defendant, American Airlines, Inc.

E. N. Carpenter, II, of Richards, Layton & Finger, Wilmington, for defendants, C. R. Smith and O. M. Mosier.

MARVEL, Vice Chancellor.

On May 16, 1960, this case which is concerned with a stockholder attack on the validity of stock options granted to its employees by American Airlines, Inc. was remanded to this Court by the Supreme Court of Delaware "* * * with instructions to take such further proceedings therein as may be necessary in conformity with the opinions * * *" of the reviewing court. In its opinion of February 11, 1960 (160 A.2d 731<...

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