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CORAN v. THORPE

203 A.2d 620 (1964)

Harry B. CORAN, Plaintiff, v. Merle THORPE et al., Defendants.

Court of Chancery of Delaware, New Castle.

September 15, 1964.

Attorney(s) appearing for the Case

Irving Morris, of Cohen & Morris, Wilmington, and Milton Paulson, New York City, for plaintiff.

Richard F. Corroon, of Berl, Potter & Anderson, Wilmington, for defendants, Hartwell, Steers and Thorpe.

E. D. Griffenberg, Jr., of Killoran & VanBrunt, of Wilmington, for defendant, Atomics, Physics and Science Fund, Inc.

SEITZ, Chancellor.

This is a stockholder's derivative action against Atomics, Physics and Science Fund, Inc., ("Fund") and its directors. Plaintiff seeks a declaration that certain underwriting and management contracts between Fund are void primarily because of alleged failure to comply with certain requirements of the Investment Company Act of 1940. On this premise plaintiff seeks an accounting of defendants' profits as well as the damages allegedly sustained by...

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