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KATZ v. OAK INDUSTRIES INC.

508 A.2d 873 (1986)

Moise KATZ, on behalf of himself and all other similarly situated holders of Oak Industries Inc.: 9 5/8% Convertible Notes due September 15, 1991, 13.50% Senior Notes due May 15, 1990, 9 5/8% Notes due September 15, 1991, 11 5/8% Notes due September 15, 1990, 13.65% Debentures due April 1, 2001, 11 7/8% Subordinated Debentures due February 1, 2002, and 11 7/8% Subordinated Debentures due May 15, 1998, Plaintiff, v. OAK INDUSTRIES INC., Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: March 10, 1986.

Attorney(s) appearing for the Case

Norman M. Monhait of Morris & Rosenthal, P.A., Wilmington and Stuart D. Wechsler, Jeffrey A. Baumel and Zachary A. Starr of Goodkind, Wechsler, Labaton & Rudoff, New York City, for plaintiff.

R. Franklin Balotti, Jesse A. Finkelstein, Kevin G. Abrams of Richards, Layton & Finger, Wilmington and Selvyn Seidel, Peter H. Benzian, Mark W. Smith, James E. Brandt and Karen B. Burrows of Latham & Watkins, New York City, for defendant.

OPINION

ALLEN, Chancellor.

A commonly used word — seemingly specific and concrete when used in everyday speech — may mask troubling ambiguities that upon close examination are seen to derive not simply from casual use but from more fundamental epistemological problems. Few words more perfectly illustrate the deceptive dependability of language than the term "coercion" which is at the heart of the theory advanced by plaintiff as entitling him...

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