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WIED v. VALHI, INC.

466 A.2d 9 (1983)

Barbara J. WIED, Intervenor-Plaintiff Below, Appellant, v. VALHI, INC., Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: July 29, 1983.

Attorney(s) appearing for the Case

Irving Morris (argued) and Kevin Gross of Morris & Rosenthal, P.A., Wilmington, and Melvyn I. Weiss, New York City, David J. Yardley and Keith F. Park, of Milberg, Weiss, Bershad & Specthrie, San Diego, Cal., of counsel, for appellant.

A. Gilchrist Sparks, III of Morris, Nichols, Arsht & Tunnell, Wilmington, and Fred H. Bartlit, Jr. (argued), Jeffrey S. Davidson and Nancy E. Hollingsworth of Kirkland & Ellis, Washington, D.C., of counsel, for appellee.

Before HERRMANN, C.J., and HORSEY and MOORE, JJ.

HERRMANN, Chief Justice:

This appeal arises from the refusal by the Court of Chancery to impose a constructive trust upon profits the intervenor-plaintiff alleges were received by the plaintiff in a private settlement of representative litigation.

I.

The plaintiff, Valhi, Inc. ("Valhi"), owned 700,000 shares, or in excess of 20%, of the stock of PSA, Inc. ("PSA"). In October, 1978, in response to a perceived...

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