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LIESE v. JUPITER CORPORATION

241 A.2d 492 (1968)

G. Burton LIESE and Claude M. McDonald, Plaintiffs, v. The JUPITER CORPORATION et al., Defendants (two cases).

Court of Chancery of Delaware, New Castle.

February 28, 1968.

Attorney(s) appearing for the Case

Potter, Anderson & Corroon, by Richard F. Corroon, Wilmington, for plaintiffs, G. Burton Liese and Claude M. McDonald.

Baker, Botts, Shepherd & Coates, by John E. Bagalay, Jr., Alvin M. Owsley, Jr., and John Kirkland, Houston, Tex., of the Texas Bar, for plaintiff G. Burton Liese.

Young, Conaway, Stargatt & Taylor, by H. Albert Young, and Edward Maxwell, 2nd, Wilmington, and Friedman, Koven, Salzman, Koenicsberg, Specks & Homer, by Sheldon O. Collen, and Howard R. Koven, Chicago, Ill., of the Illinois Bar, and Ross, Hardies, O'Keefe, Babcock, McDugald & Parsons, by William W. Brackett, Chicago, Ill., of the Illinois Bar, for individual defendants.

Connolly, Bove & Lodge, by Januar D. Bove, Jr., Wilmington, for defendant The Jupiter Corporation.

DUFFY, Chancellor:

These are actions consolidated for trial in which the real adversaries are the holders of preferred and common stock respectively. The objective is management control of The Jupiter Corporation, a Delaware corporation ("Jupiter"), and the decision as to this includes a construction of Jupiter's certificate of incorporation relating to voting rights of the preferred stock.

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