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LICHTMAN v. RECOGNITION EQUIPMENT, INCORPORATED

295 A.2d 771 (1972)

Stuart A. LICHTMAN et al., Petitioners, v. RECOGNITION EQUIPMENT, INCORPORATED, a Delaware corporation, Respondent.

Court of Chancery of Delaware, New Castle.

July 26, 1972.

Attorney(s) appearing for the Case

Bruce M. Stargatt, and Ben T. Castle, of Young, Conaway, Stargatt & Taylor, Wilmington, for petitioners.

William O. LaMotte, III, of Morris, Nichols, Arsht & Tunnell, Wilmington, for respondent.

SHORT, Vice Chancellor.

Two issues are raised in this #262 appraisal proceeding. First, is it appropriate in such a proceeding to include a claim for the value of stock options lost by the claimant as a result of the merger? Second, may a claimant who has demanded of the surviving corporation payment of the value of his shares now split his holdings to seek appraisal of a portion only?

The first question, in my opinion, must be answered in the negative. The...

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