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HARITON v. ARCO ELECTRONICS, INC.

182 A.2d 22 (1962)

Martin HARITON, Plaintiff, v. ARCO ELECTRONICS, INC., a Delaware corporation, Defendant.

Court of Chancery of Delaware, New Castle.

June 13, 1962.

Attorney(s) appearing for the Case

Irving Morris and Joseph A. Rosenthal, of Cohen & Morris, Wilmington, for plaintiff.

Samuel S. Arsht and Walter K. Stapleton, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendant.

SHORT, Vice Chancellor.

Plaintiff is a stockholder of defendant Arco Electronics, Inc., a Delaware corporation. The complaint challenges the validity of the purchase by Loral Electronics Corporation, a New York corporation, of all the assets of Arco. Two causes of action are asserted, namely (1) that the transaction is unfair to Arco stockholders, and (2) that the transaction constituted a de facto merger and is unlawful since the merger provisions of the Delaware...

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