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ABELOW v. MIDSTATES OIL CORPORATION

189 A.2d 675 (1963)

Aida ABELOW et al., Appellants, v. MIDSTATES OIL CORPORATION, a Delaware corporation, Middle States Petroleum Corporation, a Delaware corporation, Tennessee Gas Transmission Company, a Delaware corporation, Appellees.

Supreme Court of Delaware.

On Reargument April 5, 1963.

Attorney(s) appearing for the Case

Daniel O. Hastings, Clarence W. Taylor and Russell J. Willard, Jr., of Hastings, Taylor & Willard, Wilmington, for appellants.

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

SOUTHERLAND, C. J., and WOLCOTT and TERRY, JJ., sitting.

SOUTHERLAND, Chief Justice.

Plaintiffs below, then stockholders of Midstates Oil Corporation, sued to enjoin a proposed sale of Midstates' assets to its majority stockholder, Middle States Petroleum Corporation. Injunctive relief was denied, and subsequently the suit proceeded as a non-derivative class suit to enforce an individual right. After trial the Vice Chancellor ruled for the defendants on the merits and dismissed the amended complaint. Plaintiffs appeal....

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