SINGER v. CREOLE PETROLEUM CORP.


297 A.2d 440 (1972)

Benjamin H. SINGER, Plaintiff, v. CREOLE PETROLEUM CORP. et al., Defendants.

Court of Chancery of Delaware, New Castle.

September 28, 1972.


Attorney(s) appearing for the Case

William Prickett and Wayne N. Elliott, of Prickett, Ward, Burt & Sanders, Wilmington, and Benedict Wolf, Donald N. Ruby, and David M. Disick, of Wolf, Popper, Ross, Wolf & Jones, New York City, of counsel, for plaintiff.

William S. Potter and Blaine T. Phillips, of Potter Anderson & Corroon, Wilmington, and James F. Dwyer, and Robert M. Callagy, of Satterlee, Warfield & Stephens, New York City, of counsel, for defendant Creole Petroleum Corp.

Robert H. Richards, Jr., and Charles F. Richards, Jr., of Richards, Layton & Finger, Wilmington, and Arthur H. Dean, and Roy H. Steyer, of Sullivan & Cromwell, New York City, of counsel, for defendants Standard Oil Co. (New Jersey) and Esso International, Inc.


SHORT, Vice Chancellor:

This is a stockholders' derivative action brought on behalf of Creole Petroleum Corp. (Creole), a Delaware corporation. Defendants are Standard Oil Company (New Jersey), hereafter "Jersey," and Esso International, Inc., hereafter "International." Defendants have moved for summary judgment and for an order striking the complaint as sham. This is the decision on the motions.

The charging allegations of the complaint are accurately characterized...

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