FORMAN v. CHESLER


167 A.2d 442 (1961)

Joseph FORMAN, Benjamin Glassman, Samuel Berger, Dorothy Weiss and Sidney Miller, Objectants Below, Appellants, v. Louis CHESLER, George Gardiner, Maxwell Goldhar, M. Mac Schwebel, Lloyd Frank, Carroll Rosenbloom, Herbert L. Hutner, American Totalisator Company, Inc., and Universal Products Company, Inc., Defendants Below, Appellees, and William Rosenfeld, Plaintiff Below, Appellee, and Evelyn Nathan, Objectant Below, Appellee.

Supreme Court of Delaware.

January 19, 1961.


Attorney(s) appearing for the Case

Samuel R. Russell, Jr., Morford, Young & Conaway, Wilmington, for appellants.

Irving Morris, of Cohen & Morris, Wilmington, and Milton Paulson, New York City, for plaintiff-appellee.

John P. Sinclair, Berl, Potter and Anderson, Wilmington, and Bernard Stebel, Rubin, Baum & Levin, New York City, for defendants-appellees.

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


SOUTHERLAND, Chief Justice.

A stockholder of Universal Products Company, Inc. brought suit on behalf of the corporation to redress certain wrongs alleged to have been committed by its directors. The essential facts are these:

In March 1956 Universal's assets consisted of about ten million dollars in cash. The defendant Goldhar and three associates acquired one-third of its stock (apparently working control) at the...

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