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FINS v. PEARLMAN

424 A.2d 305 (1980)

David FINS, Objectant Below, Appellant, v. Herbert M. PEARLMAN, Tom Scheinman, Richard S. Wiesenthal, Utilities & Industries Corporation, Arthur L. Carter, Richard Graham, Mark N. Kaplan, and "New Co.", a Corporation Organized or about to be is unknown to Plaintiff, Proponents Below, Appellees. Arthur H. WITMONDT and Donald Witmondt, Objectants Below, Appellants, v. Herbert M. PEARLMAN, Tom Scheinman, Richard S. Wiesenthal, Utilities & Industries Corporation, Arthur L. Carter, Richard Graham, Mark N. Kaplan, and "New Co.", a Corporation Organized or about to be is unknown to Plaintiff, Proponents Below, Appellees.

Supreme Court of Delaware.

Decided November 18, 1980.

Attorney(s) appearing for the Case

Thomas D. Whittington, Jr. of Wilson & Whittington, Wilmington, for appellants; J. Stanley Shaw (argued) of Shaw, Licitra & Levine, Garden City, N. Y., for appellant Fins and Irving Bizar (argued) of Pincus, Munzer, Bizar & D'Alessandro, New York City, for appellants Witmondt.

R. Franklin Balotti of Richards, Layton & Finger, Wilmington, for appellees Pearlman, Scheinman, Wiesenthal and Utilities & Industries Corp.

Rodman Ward, Jr. (argued), John H. Small and Carolyn Berger of Skadden, Arps, Slate, Meagher & Flom, Wilmington, for appellees Carter, Graham and Kaplan.

A. Gilchrist Sparks, III of Morris, Nichols, Arsht & Tunnell, Wilmington, and Milberg, Weiss, Bershad & Specthrie, New York City, for Ruth Lindner, a/k/a Ruth Berman.

Victor F. Battaglia of Biggs & Battaglia, Wilmington, and Stanley Kaufman of Kaufman, Taylor, Kimmel & Miller, New York City, for H. Ford Perine.

Joseph A. Rosenthal of Morris & Rosenthal, Wilmington, and Robert M. Kornreich (argued) of Wolf, Popper, Ross, Wolf & Jones, New York City, for Sidney Wayne.

Before DUFFY, McNEILLY and QUILLEN, JJ.

QUILLEN, Justice.

These are consolidated appeals from an order and judgment of the Court of Chancery entered on July 30, 1979, approving a proposed settlement of a corporate merger. We state the facts with heavy reliance upon the letter opinion of the Court of Chancery, dated July 19, 1979, and the briefs filed with us.

Defendant Utilities and Industries Corporation (U&I), a Delaware corporation with its principal...

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