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GOOD v. GETTY OIL CO.

Civ. A. No. 8333.

518 A.2d 973 (1986)

Howard GOOD and Moses Weiss, Plaintiffs, v. GETTY OIL COMPANY, Gordon P. Getty, Trustee of the Sarah C. Getty Trust, the J. Paul Getty Museum, Harold Williams, Sidney R. Petersen, Harold C. Stuart, Henry Wendt, Robert N. Miller, Graham T. Allison, Jr., Willard S. Boothby, Jr., J. Clayburn Laforce, Chauncey J. Medberry, III, Laurence A. Tisch, Harold E. Berg, Frederick G. Larkin, Jr., David W. Mitchell, A. Alfred Taubman, John W. Teets, Goldman, Sachs & Co., and the First Boston Corporation, Defendants. and Texaco, Inc., Nominal Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: October 15, 1986.

Attorney(s) appearing for the Case

Joseph H. Weiss (argued), Law Offices of Joseph H. Weiss, New York City, Henry A. Heiman of Heiman & Aber, Wilmington, for plaintiffs.

Lawrence C. Ashby (argued), Stephen Jenkins of Ashby, McKelvie & Geddes, Wilmington, Francis P. Barron (argued), of Cravath, Swaine & Moore, New York City, for nominal defendant.

TAYLOR, Judge, Assigned pursuant to Del. Const. Art. IV, § 13(2).

Nominal Defendant Texaco, Inc. [Texaco], has petitioned this Court pursuant to Chancery Court Rule 72(b) to certify the following question to the Delaware Supreme Court:

Whether the issue of the futility of a demand upon board of directors (and therefore the issue of whether a corporation loses control of the management of its cause of action) invariably must be measured against...

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