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SONITROL HOLDING CO. v. MARCEAU INVESTISSEMENTS

607 A.2d 1177 (1992)

SONITROL HOLDING COMPANY, a Delaware Corporation, Defendant Below, Appellant/Cross-Appellee, v. MARCEAU INVESTISSEMENTS, a French Corporation, Plaintiff Below, Appellee/Cross-Appellant.

Supreme Court of Delaware.

Decided: May 14, 1992.

Attorney(s) appearing for the Case

Arthur G. Connolly, Jr., Connolly, Bove, Lodge & Hutz, Wilmington (Peter Van N. Lockwood (argued), Graeme W. Bush, James Sottile, IV, Caplin & Drysdale, Chartered, Washington, D.C., of counsel), for appellant/cross-appellee.

Charles F. Richards, Jr. (argued), Michael J. Feinstein, Matthew J. Ferretti, Richards, Layton & Finger, Wilmington, for appellee/cross-appellant.

Before MOORE and HOLLAND, JJ., and RIDGELY, President Judge (sitting by designation pursuant to Del. Const. art. IV, § 12).

MOORE, Justice.

Sonitrol Holding Company ("Sonitrol") appeals a decision of the Court of Chancery permitting an investor, Marceau Investissements ("Marceau"), to purchase 212,246 shares of Sonitrol Class B Stock as a consequence of Sonitrol's failure to achieve certain financial results under an agreement with Marceau. We affirm that ruling. Marceau cross appeals from the trial court's order permitting Sonitrol's chief executive officer, Harry S. Flemming ("Flemming...

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