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SAMINSKY v. ABBOTT

194 A.2d 549 (1963)

Hyman SAMINSKY and Betty Siegel, Trustee for Joan Siegel, Plaintiffs, v. Charles C. ABBOTT et al., Defendants.

Court of Chancery of Delaware, New Castle.

August 19, 1963.

Attorney(s) appearing for the Case

William E. Taylor, Jr., Wilmington, Abraham L. Pomerantz of Pomerantz, Levy, Haudek & Block, New York City, James M. Tunnell, Jr., of Morris, Nichols, Arsht & Tunnell, Wilmington, and Alfred Jaretzki, Jr., Marvin Schwartz, of Sullivan & Cromwell, New York City, for appearing defendants.

Frank J. Miller, Wilmington, Arthur T. Susman, Chicago, Ill., for objectors Sidney C. and Janice R. Kleinman.

SEITZ, Chancellor.

This is the decision on an application to approve the settlement of this action.

This action was commenced as a representative suit by certain certificate holders of some six common law trusts which form a part of the so-called Keystone Custodian Funds. Basically, plaintiffs challenged the validity of the underwriting contract and the amount and percentage scale of the management fees and recurring...

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