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KAPLAN v. WYATT

499 A.2d 1184 (1985)

Jerome KAPLAN, Plaintiff Below-Appellant, v. Oscar S. WYATT, Jr., WJS Shipping Associates, Inc., a Delaware corporation, and the Coastal Corporation, a Delaware corporation, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: October 9, 1985.

Attorney(s) appearing for the Case

Melvyn Weiss (Argued), of Milberg, Weiss, Bershad, Specthrie & Lerach, New York City, and Irving Morris and Kevin Gross of Morris and Rosenthal, Wilmington, for plaintiff below, appellant.

Henry N. Herndon, Jr. (Argued) and Richard D. Kirk of Morris, James, Hitchens & Williams, Wilmington, and James B. May and Roger J. Hawke of Brown, Wood, Ivey, Mitchell & Petty, New York City, for the Special Litigation Committee of The Coastal Corp.

A. Gilchrist Sparks of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendant below, appellee WJS Shipping Associates, Inc.

Louis J. Finger of Richards, Layton & Finger, Wilmington, for defendant below, appellee Oscar S. Wyatt, Jr.

Roderick R. McKelvie of Ashby, McKelvie & Geddes, Wilmington, and Robert E. Walls, Houston, Texas, for defendant below, appellee The Coastal Corp.

Before McNEILLY and MOORE, Justices, and O'HARA, Judge.

McNEILLY, Justice.

Jerome Kaplan, a shareholder of the Coastal Corporation (Coastal), appeals from the Court of Chancery's decision in favor of Coastal's Special Litigation Committee motion to dismiss Kaplan's derivative suit. The primary issue on appeal is whether the Court of Chancery erred in its application of the guidelines for granting a corporation's request to dismiss a derivative suit as set forth in this Court...

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