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HUGHES TOOL COMPANY v. FAWCETT PUBLICATIONS, INC.

290 A.2d 693 (1972)

HUGHES TOOL COMPANY, a Delaware corporation, Plaintiff, v. FAWCETT PUBLICATIONS, INC., a Delaware corporation, and Noah Dietrich, Defendants.

Court of Chancery of Delaware, New Castle.

April 18, 1972.

Attorney(s) appearing for the Case

S. Samuel Arsht, Lewis S. Black, Jr., and Lawrence C. Ashby, of Morris, Nichols, Arsht & Tunnell, Wilmington, and Davis & Cox, New York City, for plaintiff.

Charles F. Richards, Jr., of Richards, Layton & Finger, Wilmington, and Steptoe & Johnson, Washington, D. C., for defendant Noah Dietrich.

David F. Anderson and E. Dickenson Griffenberg, Jr., of Potter, Anderson & Corroon, Wilmington, for defendant Fawcett Publications, Inc.

MARVEL, Vice Chancellor:

The complaint herein alleges that the non-resident defendant Dietrich served for many years prior to 1957 as an officer of plaintiff, in which position he came to enjoy the trust and confidence of Howard R. Hughes, the sole stockholder of such company.

The complaint goes on to allege that on August 1, 1959, Mr. Dietrich and Mr. Hughes entered into an agreement under the terms of which a pending...

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