Alan R. KAHN, Barnett Stepak, California Public Employees' Retirement System, Objectors Below, Appellants,
v.
Joseph SULLIVAN and Alan Brody, Plaintiffs Below,
Michael Hammer, Special Administrator of the Estate of Dr. Armand Hammer, Occidental Petroleum Corporation, Dr. Ray Irani, Arthur B. Krim, Morrie A. Moss, Aziz D. Syriani, O.C. Davis, Senator Albert Gore, Arthur Groman, Michael A. Hammer, David A. Hentschel, J. Roger Hirl, John Kluge, Louis Nizer, George O. Nolley, Dr. C. Erwin Piper, Gerald M. Stern, Rosemary Tomich, Defendants Below,
The Armand Hammer Museum of Art and Cultural Center, Inc., Intervenor Below, Appellee.
Supreme Court of Delaware.https://leagle.com/images/logo.png
Submitted: July 9, 1991.
Decided: July 9, 1991.
Attorney(s) appearing for the Case
Robert D. Goldberg, Biggs and Battaglia, Wilmington, Sidney Silverman (argued), Silverman, Harnes & Obstefeld, New York City, John K. Van de Kamp, Atty. Gen., for the State of Cal., and Susan Henrichson (argued), Deputy Atty. Gen., for the State of Cal., for objectors-appellants Alan R. Kahn and California Public Employees' Retirement System respectively.
Thomas G. Hughes, Schlusser, Reiver, Hughes & Sisk, Wilmington, for objector-appellant Barnett Stepak.
William Prickett (argued), and Michael Hanrahan, Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, and Arthur T. Susman and Terry R. Saunders, Susman, Saunders and Buchler, Chicago, Ill., and David Bershad and Steven G. Schulman, Milberg, Weiss, Bershad, Specthris and Lerach, New York City, for plaintiffs Joseph Sullivan and Alan Brody.
Grover C. Brown (argued), and Norris P. Wright, Morris, James, Hitchens & Williams, Wilmington, for defendants Senator Gore, Mr. Kluge, Mr. Krim, Mr. Nizer, Mr. Nolley, Dr. Piper, Mr. Syriani and Ms. Tomich.
Bruce M. Stargatt, Edward B. Maxwell, 2nd, Young, Conaway, Stargatt & Taylor, Wilmington, Bruce W. Kauffman, Stephen J. Mathes and Camille J. Wolfe, Dilworth, Paxson, Kalish & Kauffman, Philadelphia, Pa., for individual defendants Dr. Irani, Mr. Moss, Mr. Davis, Mr. Groman, Mr. Hammer, Mr. Hentschel, Mr. Hirl, Mr. Stern and Michael Hammer, Sp. Adm'r of the Estate of Dr. Armand Hammer.
Charles Crompton and Donald J. Wolfe, Jr., Potter, Anderson & Corroon, Wilmington, for defendant Occidental Petroleum Corp.
Rodman Ward, Jr. and Marc B. Tucker, Skadden, Arps, Slate, Meagher & Flom, Wilmington, for intervenor-appellee Armand Hammer Museum of Art and Cultural Center, Inc.
Before CHRISTIE, C.J., HORSEY and HOLLAND, JJ.
Supreme Court of Delaware.
HOLLAND, Justice:
This is an appeal from the approval of the settlement of one of three civil actions brought in the Court of Chancery by certain shareholders of Occidental Petroleum Corporation ("Occidental"). Each civil action challenged a decision by Occidental's board of directors (the "Board"), through a special committee of Occidental's outside directors ("the Special Committee"), to make a charitable donation. The purpose...
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