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SHIELDS v. SHIELDS

498 A.2d 161 (1985)

John J. SHIELDS, Ann C. Shields, Ann C. Shields as Trustee for Karen A. Shields, Suzanne Shields, Cynthia Shields and John J. Shields, Jr., Karen A. Shields, Suzanne Shields, Cynthia Shields and John J. Shields as representative of John J. Shields, Jr., a minor, Plaintiffs, v. Daniel F. SHIELDS, Beatrice F. Shields, Beatrice F. Shields as Trustee for Daniel Christopher Shields and Virginia Ellen Shields, Daniel F. Shields, III, as representative of Daniel Christopher Shields and Virginia Ellen Shields, minors, Virginia S. Shields, and Shields Development Company, a Delaware corporation, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: July 22, 1985.

Attorney(s) appearing for the Case

Robert E. Schlusser, and Steven J. Stirparo, of Schlusser and Reiver, Wilmington, for plaintiffs.

Peter J. Walsh, and Jeffrey M. Weiner, of Bayard, Handelman & Murdoch, P.A., Wilmington, for defendants other than Virginia Shields.

Thomas J. Healy, of Healy & Collins, Wilmington, for defendant Virginia S. Shields.

OPINION

ALLEN, Chancellor.

This action seeks an order (1) specifically enforcing the terms of a stockholders' agreement restricting the transfer of the common stock of Shields Development Company ("Old Shields"), a Delaware corporation, (2) enjoining the voting by defendants of stock owned of record by them in a successor Delaware corporation of the same name ("New Shields"), (3) setting aside the incorporation...

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