ALCOTT v. HYMAN


184 A.2d 90 (1962)

Harvey ALCOTT, Rose E. Alcott, Dale Distributing Co., Inc., Morice Haymes, Sidney Suswein and Morton Mainzer, suing individually and as stockholders of P. R. M., Inc., (formerly Associated Artists Productions Corp.) and on behalf of themselves and other stockholders of P. R. M., Inc., (formerly Associated Artists Productions Corp.), similarly situated, and in the right of P. R. M., Inc., (formerly Associated Artists Productions Corp.), Plaintiffs, v. Eliot HYMAN, P. R. M., Inc., (formerly Associated Artists Productions Corp.), a corporation of the State of Delaware, United Artists Associated, Inc., a corporation of the State of Delaware, and Gotham Television Film Corporation, a corporation of the State of Delaware, Defendants.

Court of Chancery of Delaware, New Castle.

August 22, 1962.


Attorney(s) appearing for the Case

Hugh M. Morris and William S. Megonigal, Jr., of Morris, Nichols, Arsht & Tunnell, Wilmington, Burton H. Brody of Galef & Jacobs, and Davies, Hardy & Schenck, New York City, for plaintiffs.

Louis J. Finger, of Richards, Layton & Finger, Wilmington, and Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for defendants United Artists Associated Inc. and Gotham Television Film Corp.

Louis J. Finger, of Richards, Layton & Finger, Wilmington, and Stillman & Stillman, New York City, for defendant Eliot Hyman.


MARVEL, Vice Chancellor.

Plaintiffs sue derivatively as well as individually in their capacity as stockholders of P. R. M., Inc., a corporation known as Associated Artists Production Corp. at the time the matters complained of were consummated. Their complaint primarily seeks an order rescinding the sale of virtually all of the assets of Associated Artists (Associated) to the defendant United Artists Associated, Inc. (United). Additional relief is also sought in the...

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