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MALDONADO v. FLYNN

413 A.2d 1251 (1980)

William MALDONADO, Plaintiff, v. William H. FLYNN et al., Defendants.

Court of Chancery of Delaware, New Castle.

Decided March 18, 1980.

Attorney(s) appearing for the Case

Irving Morris, and Joseph A. Rosenthal, Morris & Rosenthal, P. A., Wilmington, and Bruce E. Gerstein, and Sidney L. Garwin, Garwin & Bronzaft, New York City, for plaintiff.

Charles F. Richards, Jr., Richards, Layton & Finger, Wilmington, for individual defendants.

Robert K. Payson, Potter, Anderson & Corroon, Wilmington, for defendant Zapata Corp.

Thomas F. Curnin, Cahill Gordon & Reindel, New York City, special counsel to the Independent Investigative Committee of Zapata Corp.

HARTNETT, Vice Chancellor.

Plaintiff ("Maldonado") brought this stockholder's derivative action against Zapata Corporation ("Zapata") and individual defendants who are, or were, officers or directors of Zapata, alleging a breach of fiduciary duty by the individual defendants. Zapata now seeks, by motion, to compel the dismissal of this action as to all defendants because an ostensibly independent committee of the directors of Zapata, after this suit was commenced...

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