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IN RE WHEELABRATOR TECH. SHAREHOLDERS LIT.

Civ. A. No. 11495.

663 A.2d 1194 (1995)

In re WHEELABRATOR TECHNOLOGIES, INC. SHAREHOLDERS LITIGATION.

Court of Chancery of Delaware, New Castle County.

Decided: May 16, 1995.

Revised: May 18, 1995.

Attorney(s) appearing for the Case

Joseph A. Rosenthal, of Rosenthal, Monhait, Gross & Goddess, Wilmington; Pamela S. Tikellis and Carolyn D. Mack, of Chimicles, Jacobsen & Tikellis, Wilmington; Steven G. Schulman, of Milberg, Weiss, Bershad, Hynes & Lerach; Abbey & Ellis, New York City, for plaintiffs.

Henry E. Gallagher, Jr. and John C. Kairis, of Connolly, Bove, Lodge, & Hutz, Wilmington, for defendant Waste Management, Inc.

David C. McBride, of Young, Conaway, Stargatt & Taylor, Wilmington, for defendants Wheelabrator Technologies, Inc. and the individual defendants.

OPINION

JACOBS, Vice Chancellor.

This shareholder class action challenges the September 7, 1990 merger (the "merger") of Wheelabrator Technologies, Inc. ("WTI") into a wholly-owned subsidiary of Waste Management, Inc. ("Waste"). The plaintiffs are shareholders of WTI. The named defendants are WTI and the eleven members of WTI's board of directors at the time the merger was negotiated and approved.

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