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JOHNSTON v. WOLF

487 A.2d 1132 (1985)

Ernest S. JOHNSTON, Woodrow R. Praught, and John G. Baron, on behalf of themselves and all others similarly situated, Plaintiffs Below, Appellants, v. Emanuel L. WOLF, Jay N. Feldman, Joseph J. Gruenberg, Andrew P. Jaeger, William V. Lurie, Carl Prager, Jack M. Sattinger, Robert J. Sisk, and Peter E. Strauss, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: January 2, 1985.

Attorney(s) appearing for the Case

Wayne J. Carey, of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Michael R. Newman and Amelia L. Taylor (argued), of Miller & Daar, Beverly Hills, Cal., David M. Olasov, of Edwards & Angell, New York City, for appellants.

Stephen P. Lamb (argued) and Stephen E. Jenkins, of Skadden, Arps, Slate, Meagher & Flom, Wilmington, for appellees.

Before HERRMANN, C.J., McNEILLY and CHRISTIE, JJ.

CHRISTIE, Justice:

This is an appeal from a decision of the Court of Chancery which granted summary judgment to the defendants-appellees. The complaint was brought as a class action under 8 Del.C. § 174.1 The plaintiff class consists of those persons who claim to be either the creditors of Allied Artists Pictures Corporation (Allied or pre...

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