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DAVID J. GREENE & CO. v. SCHENLEY INDUSTRIES, INC.

281 A.2d 30 (1971)

DAVID J. GREENE & CO. et al., Plaintiffs, v. SCHENLEY INDUSTRIES, INC., et al., Defendants.

Court of Chancery of Delaware, New Castle.

June 15, 1971.

Attorney(s) appearing for the Case

Irving Morris of Cohen, Morris & Rosenthal, Wilmington, and Julius Levy of Pomerantz, Levy, Haudek & Block, New York City, for plaintiffs.

S. Samuel Arsht of Morris, Nichols, Arsht & Tunnell, Wilmington, and Leon Silverman of Fried, Frank, Harris, Shriver & Jacobson, New York City, for defendant Glen Alden Corporation.

Louis J. Finger, of Richards, Layton & Finger, Wilmington, for defendant Schenley Industries, Inc.

MARVEL, Vice Chancellor:

The complaint herein, which was filed on March 5, 1971, seeks a preliminary and final order enjoining the consummation of a contemplated plan of merger proposed to be effected under the terms of 8 Del.C. § 251. It is claimed in the complaint that such projected merger is so grossly unfair to plaintiffs and other minority stockholders of the defendant Schenley that it must be enjoined as being an attempt by self-dealing officers and directors...

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