TRANS WORLD AIRLINES, INC. v. HUGHES


317 A.2d 114 (1974)

TRANS WORLD AIRLINES, INC., Plaintiff, v. Howard R. HUGHES and Hughes Tool Company, Defendants, and The Equitable Life Assurance Society of the United States et al., Additional Defendants on Counterclaims.

Court of Chancery of Delaware, New Castle.

February 19, 1974.


Attorney(s) appearing for the Case

Louis J. Finger, Richards, Layton & Finger, Wilmington, and Dudley B. Tenney, Paul W. Williams, and Marshall Cox, Cahill, Gordon & Reindel, New York City, for plaintiff.

George Tyler Coulson, Morris, Nichols, Arsht & Tunnell, Wilmington, and Chester C. Davis and Maxwell E. Cox, Davis & Cox, New York City, for defendants.

William Prickett, Prickett, Ward, Burt & Sanders, Wilmington, and Cravath, Swaine & Moore, New York City, for the additional defendants the Equitable Life Assurance Society of the United States and Metropolitan Life Ins. Co. and Harry C. Hagerty.

William S. Potter, Potter, Anderson & Corroon, Wilmington, appearing specially for the additional defendant Irving Trust Co.

Leroy A. Brill, Bayard, Brill & Handelman, Wilmington, and Sullivan & Cromwell, New York City, for the additional defendant Ernest R. Breech.

Carl Schnee, Tybout, Redfearn & Schnee, Wilmington, for the additional defendant Charles C. Tillinghast, Jr.


MARVEL, Vice Chancellor:

On June 30, 1961, Trans World Airlines, Inc., the plaintiff in this later filed action, instituted an anti-trust suit for treble damages in the District Court of the United States for the Southern District of New York against Howard R. Hughes, Hughes Tool Company, and Raymond M. Holliday, an official of the corporate defendant and a director of plaintiff, which complained of injuries allegedly suffered by plaintiff as a result of the improperly...

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