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PENN MART REALTY COMPANY v. BECKER

298 A.2d 349 (1972)

PENN MART REALTY COMPANY, a corporation of the Commonwealth of Pennsylvania, Plaintiff, v. Isadore A. BECKER et al., Defendants.

Court of Chancery of Delaware, New Castle.

November 29, 1972.

Attorney(s) appearing for the Case

Irving Morris, and Joseph A. Rosenthal, of Cohen, Morris & Rosenthal, Wilmington, for plaintiff.

Hugh Corroon, and E. D. Griffenberg, Jr., of Potter Anderson & Corroon, Wilmington, for defendants Investors Diversified Services, Inc., and Investors Variable Payment Fund, Inc.; Donovan, Leisure, Newton & Irvine, and Davis, Polk & Wardwell, New York City, of counsel.

Howard M. Handelman, of Bayard, Brill & Handelman, Wilmington, for defendant Glen Alden Corp.

SHORT, Vice Chancellor:

This is a derivative suit brought on behalf of Glen Alden Corporation (Glen Alden), a Delaware corporation, by one of its stockholders, Penn Mart Realty Co. (Penn Mart). The individual defendants are the board of directors of Glen Alden. The corporate defendants are Investors Diversified Services, Inc. (IDS), a Minnesota corporation; Investors Variable Payment Fund, Inc. (Investors), a Nevada corporation; and Carter, Berlind & Weill, Inc...

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