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ABBEY v. COMPUTER & COMMUNICATIONS TECHNOLOGY

457 A.2d 368 (1983)

Diane ABBEY et ano., as Trustee under Agreement of Trust Dated July 22, 1978 f/b/o Leslie Ann Abbey and Jonathan D. Abbey, Plaintiff, v. COMPUTER & COMMUNICATIONS TECHNOLOGY CORP., Everett T. Bahre, Robert J. Leaver and William Hambrecht, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: January 17, 1983.

Attorney(s) appearing for the Case

Joseph A. Rosenthal, and Kevin Gross, of Morris & Rosenthal, Wilmington, and Arthur N. Abbey, and Philip R. Brookmeyer, of the Law Firm of Arthur Abbey, New York City, for plaintiff.

William O. LaMotte, III, and Marguerite A. Conan, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendant Computer & Communications Technology Corp.

Robert K. Payson, of Potter, Anderson & Corroon, Wilmington, for individual defendants.

BROWN, Chancellor.

This action was filed derivatively pursuant to Chancery Rule 23.1 on behalf of the defendant Computer & Communications Technology Corp., a Delaware corporation (hereafter "CCTC"). Plaintiff is a shareholder of that corporation. On behalf of the corporation she seeks to recover against the individual defendants for illegal profits allegedly realized by them as a result of trading in the stock of the...

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