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LEWIS v. SCOTTEN DILLON COMPANY

306 A.2d 755 (1973)

Harry LEWIS, Plaintiff, v. SCOTTEN DILLON COMPANY and Iroquois Industries, Inc., Defendants.

Court of Chancery of Delaware, New Castle.

May 16, 1973.

Attorney(s) appearing for the Case

Irving Morris and Joseph A. Rosenthal, of Cohen, Morris & Rosenthal, Wilmington and Leonard I. Schreiber, New York City, for plaintiff.

Louis J. Finger, of Richards, Layton & Finger, Wilmington and Gerard A. Dupuis, of Mudge, Rose, Guthrie & Alexander, New York City, for defendant Iroquois Industries, Inc.

DUFFY, Chancellor:

The determinative issue is whether fees should be allowed to plaintiff's attorneys (and accountants) in this derivative stockholder action. This is the decision after final hearing.

A.

Under date of May 15, 1970 the respective boards of Iroquois Industries, Inc. and Scotten Dillon Company, both Delaware corporations, approved an agreement providing for the acquisition by Iroquois of all assets of Scotten Dillon in exchange for...

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