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GROSSMAN v. LIBERTY LEASING CO., INC.

295 A.2d 749 (1972)

Howard A. GROSSMAN et al., Plaintiffs, v. LIBERTY LEASING CO., INC., a Delaware corporation, et al., Defendants.

Court of Chancery of Delaware, New Castle.

May 11, 1972.

Attorney(s) appearing for the Case

H. Albert Young, H. James Conaway, Jr., Edward B. Maxwell, 2d, Jack B. Jacobs, of Young, Conaway, Stargatt & Taylor, Wilmington, and Bernard J. Nussbaum, of Sonnenschein, Levinson, Carlin, Nath & Rosenthal, Chicago, Ill., for plaintiffs.

E. Norman Veasey, David T. Dana, III, Allen M. Terrell, Jr., of Richards, Layton & Finger, Wilmington, and Howard Arvey and John J. Enright, of Arvey, Hodes & Mantynband, Chicago, Ill., for defendants.

DUFFY, Chancellor:

This action involves a struggle for control of Liberty Leasing Co., Inc., a Delaware corporation (Liberty). The motions and arguments are many but, in the view I take of the present status of affairs, it is necessary to consider only the Court's jurisdiction under 8 Del.C. § 225 and plaintiffs' motion for a preliminary injunction.

A.

Plaintiffs, together with members of their immediate families, own approximately twenty percent...

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