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PRINCE v. BENSINGER

244 A.2d 89 (1968)

Alexander PRINCE and Magda Prince, Plaintiffs, v. B. E. BENSINGER et al., Defendants.

Court of Chancery of Delaware, New Castle.

June 19, 1968.

Attorney(s) appearing for the Case

William T. Lynam, III and Ernest S. Wilson, Jr., of Wilson & Lynam, Wilmington, and Stanley L. Kaufman of Kaufman, Taylor, Kimmel & Miller, New York City, for plaintiffs.

Robert H. Richards, Jr., and E. Norman Veasey of Richards, Layton & Finger, Wilmington, and Leo Herzel and William A. Wineberg of Mayer, Friedlich, Spiess, Tierney, Brown & Platt, Chicago, Ill., for individual defendants.

John P. Sinclair of Potter, Anderson & Carroon, Wilmington, for defendant, Brunswick Corp.

Vincent A. Theisen of Theisen & Lank, Wilmington, and Thomas W. Hill, Jr., and Bruce J. Colan of Spear & Hill, New York City, for objectant, Colonial Realty Corp.

Jacob Cohen, Chicago, Ill., for himself and for June Cohen, objectants.

MARVEL, Vice Chancellor:

The complaint herein, which is derivatively filed by two stockholders of Brunswick Corporation, attacks the propriety of certain bonus payments made to the individual defendants and other key employees of the corporate defendant, said payments being attacked on the general ground of excessiveness and on the specific ground that they were computed on the basis of allegedly fictitious corporate earnings of some $140,000,000 reported by Brunswick...

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