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SWANTON v. STATE GUARANTY CORPORATION

215 A.2d 242 (1965)

Charles L. SWANTON et al., Plaintiffs, v. STATE GUARANTY CORPORATION, a Delaware corporation, Allied Properties, a California corporation, Surviving Corporation, Defendants.

Court of Chancery of Delaware, New Castle.

October 22, 1965.

Attorney(s) appearing for the Case

Howard M. Handelman, of Bayard, Brill, Russell & Handelman, Wilmington, and Walter H. Young, Los Angeles, Cal., for plaintiffs.

Joseph H. Geoghegan, of Berl, Potter & Anderson, Wilmington, and John L. Bradley, of Crimmins, Kent, Bradley & Burns, San Francisco, Cal., for defendants.

SEITZ, Chancellor:

Plaintiffs were preferred stockholders of State Guaranty Corporation ("Guaranty"), which merged into Allied Properties, a California corporation (both called "defendants"). Plaintiffs qualified for a statutory appraisal and the appraiser fixed $88.62 as the per share fair value. Both plaintiffs and defendants filed exceptions to the appraiser's report and this is the decision thereon.

Guaranty was incorporated in 1927. Apparently it has...

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