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PARSHALLE v. ROY

Civ. A. No. 10937.

567 A.2d 19 (1989)

Gerald S. PARSHALLE and Michael S. Ariens, Petitioners, v. Real O. ROY and Quinn W. Martin, Respondents. Real O. ROY and Quinn W. Martin, Counterclaim Petitioners, v. Gerald S. PARSHALLE and Michael S. Ariens, Counterclaim Respondents, v. REALIST, INC., a Delaware corporation, Additional Counterclaim Respondent.

Court of Chancery of Delaware, New Castle County.

Decided September 19, 1989.

Attorney(s) appearing for the Case

Thomas A. Beck, and Anne C. Foster, of Richards, Layton & Finger, Wilmington, Michael Fischer and Maureen A. McGinnity, of Foley & Lardner, Milwaukee, Wis., for petitioners and counterclaim respondents.

Lawrence A. Hamermesh, Brett D. Fallon and Robert J. Valihura, Jr., of Morris, Nichols, Arsht & Tunnell, Wilmington, and Nutter, McClennen & Fish, Boston, Mass., for respondents and counterclaim petitioners.

OPINION

JACOBS, Vice Chancellor.

This action was commenced on June 27, 1989, pursuant to 8 Del.C. § 225, by petitioners Gerald S. Parshalle ("Parshalle") and Michael S. Ariens ("Ariens"). Petitioners seek a declaration that they were duly elected as directors of Realist, Inc. ("Realist") at Realist's annual shareholders meeting held on June 6, 1989. On July 11, 1989, respondents Real O. Roy ("Roy") and Quinn W. Martin ("Martin") filed their answer...

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