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SIEGMAN v. COLUMBIA PICTURES

Civ. A. No. 11152.

576 A.2d 625 (1989)

Joseph SIEGMAN, as custodian for Gregory Siegman and Michelle Siegman, Plaintiff, v. COLUMBIA PICTURES ENTERTAINMENT, INC., a Delaware corporation; Sony Columbia Acquisition Corp., a Delaware corporation; and Sony USA Inc., a New York corporation, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: October 31, 1989.

Revised: November 9, 1989.

Attorney(s) appearing for the Case

William Prickett, Michael Hanrahan, Elizabeth M. McGeever, and Chandlee Johnson Kuhn, Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, and Arthur T. Susman, and Terry R. Saunders, Susman, Saunders & Buehler, Chicago, Ill., for plaintiff.

James F. Burnett, and Donald J. Wolfe, Jr., Potter Anderson & Corroon, Wilmington, and Marc P. Cherno, and Debra M. Torres, Fried, Frank, Harris, Shriver & Jacobson, New York City, for defendant Columbia Pictures Entertainment, Inc.

Rodman Ward, Jr., and Anthony W. Clark, Skadden, Arps, Slate, Meagher & Flom, Wilmington, Richard L. Brusca, and Janet L. Goetz, Skadden, Arps, Slate, Meagher & Flom, Washington, D.C., for defendants Sony Columbia Acquisition Corp. and Sony USA Inc.

OPINION

HARNETT, Vice Chancellor.

Plaintiff's motion for a preliminary injunction must be denied because he has not shown a reasonable probability that any violation of 8 Del.C. § 203, the Delaware Takeover Statute, has occurred as a result of the Tender Offer of Sony USA Inc. ("Sony") for all of the shares of Columbia Pictures Entertainment, Inc. ("Columbia").

Although I find that plaintiff...

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