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STROUD v. MILLIKEN ENTERPRISES, INC.

Civ. A. No. 8969.

585 A.2d 1306 (1988)

W.B. Dixon STROUD, Jr., Morris W. Stroud, Agnes S. Peelle, and Anne S. Bradford, Plaintiffs, v. MILLIKEN ENTERPRISES, INC., Dr. George C. Dacey, Dr. T.J. Malone, Roger Milliken, H.W. Jockers, Dr. H. Keith Brodie, Minot K. Milliken, F.G. Rogers, J. Peter Grace, Rene C. McPherson, and Gerrish H. Milliken, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: March 18, 1988.

Attorney(s) appearing for the Case

William Prickett, Michael Hanrahan, and Philip B. Obbard, Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, for plaintiffs.

Andrew B. Kirkpatrick, Jr., William H. Sudell, Jr., Andrew M. Johnston, and Mary B. Graham, Morris, Nichols, Arsht & Tunnell, Wilmington, for defendant-Milliken Enterprises, Inc.

Clark W. Furlow, and David A. Jenkins, Lassen, Smith, Katzenstein & Furlow, Wilmington, for individual director defendants.

HARTNETT, Vice Chancellor.

This suit is brought individually by the plaintiffs, on behalf of themselves, and derivatively on behalf of the other stockholders of defendant Milliken Enterprises, Inc., a Delaware corporation ("Milliken"). In the complaint, as now revised and amended, it is alleged that proposed amendments to Milliken's Certificate of Incorporation and By-laws are invalid as a matter of law and are also part...

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