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CITRON v. MERRITT-CHAPMAN & SCOTT CORP.

409 A.2d 607 (1977)

Samuel H. CITRON, Edith Citron and William B. Weinberger, Plaintiffs, v. MERRITT-CHAPMAN & SCOTT CORPORATION, Louis E. Wolfson, Elkin B. Gerbert, Marshal G. Staub, Louis Goldberg, David Reich, and Cecil Wolfson, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided May 4, 1977.

Attorney(s) appearing for the Case

Russell J. Willard, Jr. of Hastings & Willard, Wilmington, and Charles Trynin, New York City, for plaintiffs.

Michael D. Goldman of Potter, Anderson & Corroon, Wilmington, for defendants Merritt-Chapman & Scott Corp. and Goldberg.

Edward B. Maxwell, 2nd of Young, Conaway, Stargatt & Taylor, Wilmington, for defendants Louis E. Wolfson and Gerbert.

Alfred M. Isaacs of Flanzer & Isaacs, Wilmington, and Martin R. Gold of Gold & Marks, New York City, for defendant Staub.

Howard M. Handelman of Bayard, Brill & Handelman, Wilmington, for defendants Reich and Cecil Wolfson.

BROWN, Vice Chancellor.

This is a derivative suit brought by two shareholders of Merritt-Chapman & Scott (hereafter "MCS"), a Delaware corporation, seeking initially a joint and several judgment in favor of MCS against certain present and former officers and directors of MCS for all compensation paid by the corporation to three of the individual defendants since 1961. The individual defendants have moved for summary judgment...

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