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IROQUOIS INDUSTRIES, INC. v. LEWIS

318 A.2d 134 (1974)

IROQUOIS INDUSTRIES, INC., a Delaware corporation, Defendant Below, Appellant (who was sued with Scotten, Dillon Company, a Delaware corporation), v. Harry LEWIS, Plaintiff Below, Appellee.

Supreme Court of Delaware.

March 25, 1974.

Attorney(s) appearing for the Case

Louis J. Finger, Richards, Layton & Finger, Wilmington, for defendant below, appellant.

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

CAREY, Justice, and TAYLOR and WRIGHT, Judges, sitting.

PER CURIAM:

In this derivative stockholders' action, the defendant corporation appeals from the award of a counsel fee to the plaintiff.

The Court below held that Fox, who was President and Board Chairman of Iroquois, and who negotiated the deal with Scotten, Dillon Company, had a very substantial financial personal advantage to gain by the transaction; wherefore the situation called for the fullest disclosure on his part, which was not made. It further held...

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