Sol A. DANN et al., Plaintiffs,
v.
CHRYSLER CORPORATION, a corporation of the State of Delaware, et al., Defendants.
Mary L. GALLO and A. James Gallo, Plaintiffs,
v.
Paul C. ACKERMAN et al., Defendants.
Court of Chancery of Delaware, New Castle.https://leagle.com/images/logo.png
December 31, 1963.
Motions for Reargument Denied February 7, 1964.
Attorney(s) appearing for the Case
Daniel O. Hastings, Clarence W. Taylor and Russell J. Willard, Jr., of Hastings, Taylor & Willard, Wilmington; Lewis M. Dabney, Jr., and Herbert Robinson, New York City; and Frank Rosenbaum of Dann, Rosenbaum, Bloom & Kaufman of Detroit, Michigan, for plaintiffs in Civil Action No. 1330, Sol. A. Dann and others.
William E. Taylor, Jr., of Wilmington; Norman S. Nemser and Stanley Nemser, of Nemser & Nemser, New York City; and Irving Steinman, New York City, for plaintiffs in Civil Action No. 1585, Mary L. Gallo and James A. Gallo.
Aaron Finger and Robert H. Richards, Jr., of Richards, Layton & Finger, Wilmington, and Milton Pollack, New York City for defendant, Chrysler Corporation in Civil Actions Nos. 1330 and 1585.
Richard F. Corroon, of Berl, Potter & Anderson, Wilmington; David W. Peck and Howard T. Milman, of Sullivan & Cromwell, New York City, for defendants, Jones, Brady, Dodge, Love, McCollum, McElroy, McNeill, Page, Trippe and Warren in Civil Action No. 1330 and defendants, Van Bomel, Coleman, Love, McNeill, Dodge and Estate of W. A. Jones in Civil Action No. 1585.
Daniel L. Herrmann, of Herrmann, Bayard, Brill & Russell, Wilmington and Robert Ehrenbard, of Kelley, Drye, Newhall, Maginnes & Warren, New York City, for defendants Ackerman, Bright and Laughna in Civil Action No. 1330 and defendants, Ackerman and Bright in Civil Action No. 1585.
S. Samuel Arsht, of Morris, Nichols, Arsht & Tunnell, Wilmington, and Robert Ehrenbard and Francis S. Bensel, of Kelley, Drye, Newhall, Maginnes & Warren, New York City, for defendants, Colbert, Jacobson, Leary, Misch, Quinn, Row, Townsend and Woolson in Civil Action No. 1330 and defendants, Colbert, Leary, Misch, Quinn, Townsend, Woolson and Zeder in Civil Action No. 1585.
Clyde M. England, Jr., of Killoran & VanBrunt, Wilmington, for defendant, K. T. Keller in Civil Actions Nos. 1330 and 1585.
John J. Morris, Jr., of Morris, James, Hitchens & Williams, Wilmington, for defendant, NAFI Corp.
Albert W. James and Arthur J. Sullivan, of Morris, James, Hitchens & Williams, Wilmington, for defendant, Jack W. Minor in Civil Actions Nos. 1330 and 1585.
Howard M. Handelman, Wilmington, and Norman Annenberg, New York City, for objector, Erwin H. Ezzes.
Irving Morris and Joseph A. Rosenthal, of Cohen & Morris, Wilmington, for objectants, Judson, Cassady and Seeman, Executrices, and objectant, Sandler.
Frank J. Miller, of Walker, Miller & Wakefield, Wilmington, for intervenor, Herman Koenigsberg.
I. Walton Bader, of Bader & Bader, New York City for objector, Arthur Hoffman.
Aubrey B. Lank, of Theisen & Lank, Wilmington, amicus curiae.
Court of Chancery of Delaware, New Castle.
SEITZ, Chancellor:
This is the decision after hearing on the fairness of a proposed settlement of two derivative actions.
The first action was commenced by one Sol A. Dann and other stockholders against Chrysler Corporation ("Chrysler"), various directors and officers as well as certain suppliers of Chrysler. This action will be referred to as the "Dann action".
The Dann action was commenced in August 1960, and involved some twelve causes of action...
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