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LEIBERT v. GRINNELL CORPORATION

194 A.2d 846 (1963)

Kenneth V. LEIBERT, Plaintiff, v. GRINNELL CORPORATION, a corporation of the State of Delaware, and Automatic Fire Alarm Company of Delaware, a corporation of the State of Delaware, Defendants.

Court of Chancery of Delaware, New Castle.

October 4, 1963.

Attorney(s) appearing for the Case

Arthur G. Logan (of Logan & Boggs), Wilmington, and Gustave B. Garfield, New York City, for plaintiff.

Henry M. Canby and Richard J. Abrams (of Richards, Layton & Finger), Wilmington, for defendants.

MARVEL, Vice Chancellor.

Plaintiff, a holder of common stock of Automatic Fire Alarm Company of Delaware, alleges in his complaint that the defendant Grinnell Corporation, which in 1949 acquired 50% of the outstanding stock of the defendant Automatic Fire Alarm of Delaware and thereafter acquired additional shares, has from since at least as long ago as 1950 so controlled the affairs of the latter defendant and its subsidiary...

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