LIPKIN v. JACOBY


202 A.2d 572 (1964)

Florence LIPKIN, Plaintiff, v. Sydney JACOBY et al., Defendants.

Court of Chancery of Delaware, New Castle.

July 17, 1964.


Attorney(s) appearing for the Case

Irving Morris of Cohen, Morris & Rosenthal, Wilmington, Del., and Leonard I. Schreiber, New York City for plaintiff.

Aaron Finger and Louis Finger of Richards, Layton & Finger, Wilmington, Del., for defendants.


MARVEL, Vice Chancellor:

The complaint herein charges that the individual defendants, who are directors of the corporate defendant, committed a breach of fiduciary duty owed to their corporation in causing it to enter into a contract for the acquisition of an 85% interest in land located on West 57th Street in the City of New York with knowledge that two members of their board, the defendants Solomon Klausner and David Goodman, were simultaneously acquiring a 15%...

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