DATAPOINT CORP. v. PLAZA SECURITIES CO.


496 A.2d 1031 (1985)

DATAPOINT CORPORATION, a Delaware Corporation, Defendant Below, Appellant, v. PLAZA SECURITIES COMPANY, and Arbitrage Securities Company, Plaintiffs Below, Appellees.

Supreme Court of Delaware.

Oral Decision: March 8, 1985.

Written Decision: July 31, 1985.


Attorney(s) appearing for the Case

R. Franklin Balotti (argued), Jesse A. Finkelstein, and Gregory P. Williams of Richards, Layton & Finger, Wilmington, for appellant.

William T. Quillen (argued), James F. Burnett and Harding W. Drane, Jr. of Potter, Anderson & Corroon, Wilmington; Stuart L. Shapiro and Peter E. Greene of Skadden, Arps, Slate, Meagher & Flom, New York City, for appellees.

Before HORSEY, MOORE and CHRISTIE, Justices.


HORSEY, Justice.

I.

This appeal by Datapoint Corporation from an order of the Court of Chancery, preliminarily enjoining its enforcement of a bylaw adopted by Datapoint's board of directors, presents an issue of first impression in Delaware: whether a bylaw designed to limit the taking of corporate action by written shareholder consent in lieu of a stockholders' meeting conflicts with 8 Del.C. § 228...

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