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ISTITUTO BANCARIO ITALIANO SpA v. HUNTER ENGINEERING CO.

428 A.2d 19 (1981)

ISTITUTO BANCARIO ITALIANO SpA, Plaintiff, v. HUNTER ENGINEERING COMPANY, INC., Efday B. V., Hans Niederer, Tools Machine-En-Gereedschappenhandel B. V., Piero Bugnone, and Aldo Bugnone, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided February 26, 1981.

Attorney(s) appearing for the Case

Lewis S. Black, Jr., of Morris, Nichols, Arsht & Tunnell, Wilmington, and John M. Townsend of Hughes, Hubbard & Reed, New York City, for plaintiff.

Charles F. Richards, Jr., of Richards, Layton & Finger, Wilmington, and William A. Masterson of Rogers & Wells, Los Angeles, Cal., for defendant Hunter Engineering Co., Inc.

Charles S. Crompton, Jr., of Potter, Anderson & Corroon, Wilmington, and Lord, Day & Lord, New York City, for defendants Tools Machine-en-Gereedschappenhandel B. V. and Dr. Hans Niederer.

MARVEL, Chancellor:

Plaintiff, a banking corporation organized under the laws of Italy with a principal place of business in Milan, Italy, seeks rescission of the action of the defendants in causing the issuance of 190,000 shares of stock1 of the defendant Hunter Engineering Company, Inc. a Delaware corporation with headquarters in Riverside, California, in the form of a stock dividend payable...

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