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KLOTZ v. WARNER COMMUNICATIONS, INC.

No. 222, 1995.

674 A.2d 878 (1995)

Howard S. KLOTZ, individually, and as Trustee of the Rose Klotz Trust and on behalf of himself and all others similarly situated, Plaintiff Below, Appellant, v. WARNER COMMUNICATIONS, INC., and Time Warner, Inc., Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: December 18, 1995.

Attorney(s) appearing for the Case

Pamela S. Tikellis, and Cynthia A. Calder, Chimicles, Jacobsen & Tikellis, Wilmington; Daniel W. Krasner (argued) and Peter C. Harrar, New York City, of counsel for Appellants.

Charles F. Richards, Jr. (argued) and Matthew J. Ferretti, Richards, Layton & Finger, Wilmington; Max S. Gitter, Paul, Weiss, Rifkind, Wharton & Garrison, New York City, of counsel for Appellees.

Before WALSH, HOLLAND and BERGER, JJ.

WALSH, Justice:

In this appeal from the Court of Chancery, we are required to interpret the market exception to the appraisal statute, 8 Del.C. § 262. Specifically, the plaintiff below-appellant contends that the market exception to appraisal does not apply if a merger is accomplished through the use of written consents, as occurred in this case. Appellant contends the Court of Chancery erred in denying him appraisal rights after that merger. The court...

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