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LEVIN v. MIDLAND-ROSS CORPORATION

194 A.2d 50 (1963)

David LEVIN, Morris Segal and Doris S. Segal, Petitioners, v. MIDLAND-ROSS CORPORATION, an Ohio corporation, Respondent. William J. LYNCH, Petitioner, v. MIDLAND-ROSS CORPORATION, an Ohio corporation, Respondent.

Court of Chancery of Delaware, New Castle County.

August 30, 1963.

Attorney(s) appearing for the Case

Samuel R. Russell, of Herrmann, Bayard, Brill & Russell, Wilmington, for petitioners David Levin, Morris Segal, Doris S. Segal and certain other claimants.

John J. De Luca and Joseph A. Julian, Jr., Wilmington, for petitioner William J. Lynch.

Aaron Finger, of Richards, Layton & Finger, Wilmington, and John B. Houck, of Jones, Day, Cockley & Reavis, Cleveland, Ohio, for respondent.

MARVEL, Vice Chancellor.

Petitioners in the above consolidated action were stockholders of Industrial Rayon Corporation on April 28, 1961, the effective date of the merger of their corporation with Midland-Ross Corporation. As such they have resorted to the provisions of 8 Del.C. § 262 for the purpose of dissenting from the now accomplished merger and obtaining payment of what they claim to be the value of their shares of stock as of the date of merger. Exceptions...

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