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BEALS v. WASHINGTON INTERN., INC.

386 A.2d 1156 (1978)

Vaughn BEALS et al., Plaintiffs, v. WASHINGTON INTERNATIONAL, INC., et al., Defendants.

Court of Chancery of Delaware, New Castle County.

Decided May 10, 1978.

Attorney(s) appearing for the Case

Rodman Ward, Jr. and Edward P. Welch, of Prickett, Ward, Burt & Sanders, Wilmington, for plaintiffs.

Edmund N. Carpenter, II, R. Franklin Balotti, and James McC. Geddes, of Richards, Layton & Finger, Wilmington, for defendants.

HARTNETT, Vice Chancellor.

In this action plaintiffs are former stockholders of defendant-Formac, Inc. (Formac). They were eliminated from equity participation in Formac as a result of a merger whereby defendant-MLZ, Inc. (MLZ) was merged into Formac. Plaintiffs seek to rescind the merger alleging misstatement of fact in the Proxy Statement in connection with the merger, and that the merger was approved only because of an illegal conspiracy among certain individual...

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