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PREZANT v. De ANGELIS

636 A.2d 915 (1994)

Jeffrey PREZANT, Saul Gevertz, Toni Fenchel and John Josef Sedelmaier, Objectors Below, Appellants, v. Joseph De ANGELIS and Mary Jane Regele, on behalf of themselves and all others similarly situated, Plaintiffs Below, Appellees, v. SALTON/MAXIM HOUSEWARES, INC., Leonhard Dreimann, David C. Sabin, William B. Rue, Dean Witter Reynolds, Inc., and Mesirow Financial Inc., Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: February 3, 1994.

Attorney(s) appearing for the Case

Joseph A. Rosenthal (argued), and Kevin Gross, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, for Objectors Below, appellants.

Brian Glancy, Schlusser, Reiver, Hughes & Sisk, Wilmington, and Robert B. Matusoff (argued), Gene Mesh & Associates, Cincinnati, OH, for plaintiffs below, appellees.

Kenneth J. Nachbar (argued), Morris, Nichols, Arsht & Tunnell, Wilmington, and Harold C. Hirshman and Christopher Q. King, Sonnenschein, Nath & Rosenthal, Chicago, IL, for defendants below, appellees.

Before VEASEY, C.J., WALSH and HOLLAND, JJ.

WALSH, Justice:

This is an appeal from a Court of Chancery approval of a class action settlement. The court approved the settlement as being fair, reasonable and adequate and in the best interests of the class, over the objection of appellants. However, the court did not determine that the named plaintiff was an adequate representative of the class. Because adequacy of a class representative is a requirement of Court of Chancery...

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