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ARMSTRONG v. POMERANCE

423 A.2d 174 (1980)

E. M. ARMSTRONG et al., Defendants Below, Appellants, v. Joseph POMERANCE, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided October 29, 1980.

Attorney(s) appearing for the Case

R. Franklin Balotti (argued) of Richards, Layton & Finger, Wilmington, and Charles S. Crompton, Jr. (argued) of Potter, Anderson & Corroon, Wilmington, for defendants below, appellants.

J. A. Rosenthal (argued), and Irving Morris of Morris & Rosenthal, P. A., Wilmington, and Mordecai Rosenfeld, New York City, for plaintiff below, appellee.

Before McNEILLY, QUILLEN and HORSEY, JJ.

McNEILLY, Justice:

This interlocutory appeal involves two consolidated derivative actions brought on behalf of the Morrison-Knudsen Company, Inc. (hereinafter the Company), asserting breach of fiduciary duty by the named individual defendants in their capacities as directors of the Company. The suits allege misconduct in transactions involving the repurchase of Company stock from the Crane Company.

The Company is...

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