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CEDE & CO. v. TECHNICOLOR, INC.

542 A.2d 1182 (1988)

CEDE & CO. and Cinerama, Inc., Petitioners Below, Appellants, v. TECHNICOLOR, INC., Respondent Below, Appellee. CINERAMA, INC., a New York Corporation, Plaintiff Below, Appellant and Cross-Appellee, v. TECHNICOLOR, INC., a Delaware Corporation, Morton Kamerman, Arthur N. Ryan, Fred R. Sullivan, Guy M. Bjorkman, George Lewis, Richard M. Blanco, Jonathan T. Isham, MacAndrews & Forbes Group, Incorporated, a Delaware Corporation, Macanfor Corporation, a Delaware Corporation, and Ronald O. Perelman, Defendants Below, Appellees and Cross-Appellants.

Supreme Court of Delaware.

Decided: June 10, 1988.

Attorney(s) appearing for the Case

Gary J. Greenberg (argued), of counsel, New York City, Charles S. Crompton, Jr., Peter M. Sieglaff, Arthur L. Dent, of Potter Anderson & Corroon, Wilmington, for appellants Cede & Co. and appellant-cross-appellee Cinerama, Inc.

Thomas J. Allingham II (argued) of Skadden, Arps, Slate, Meagher & Flom, Wilmington, R. Franklin Balotti of Richards, Layton & Finger, Wilmington, for appellee and cross-appellants Technicolor, Inc.

Before HORSEY, MOORE and HOLLAND, JJ.

HORSEY, Justice:

We accepted this interlocutory appeal from the Court of Chancery to address a question of first impression in this Court: the standing and right of a minority shareholder who has dissented from a cash-out merger and commenced an appraisal proceeding under 8 Del.C. § 262 to assert and pursue a later-discovered individual claim of fraud in the merger through an action for rescissory damages against...

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