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UNITRIN, INC. v. AMERICAN GENERAL CORP.

No. 418, 1994.

651 A.2d 1361 (1995)

UNITRIN, INC., James E. Annable, Reuben L. Hedlund, Jerrold V. Jerome, George A. Roberts, Fayez S. Sarofim, Henry E. Singleton and Richard C. Vie, Defendants Below, Appellants, v. AMERICAN GENERAL CORP., Plaintiff Below, Appellee. In re UNITRIN, INC. Shareholders Litigation.

Supreme Court of Delaware.

Decided: January 11, 1995.

Attorney(s) appearing for the Case

Richard L. Sutton (argued), Thomas R. Hunt, Jr., Alan J. Stone and Michael L. Vild of Morris, Nichols, Arsht & Tunnell, Wilmington, Kenneth R. Heitz and David I. Gindler, Irell & Manella, Los Angeles, CA, for appellants.

Rodman Ward, Jr., Marc B. Tucker (argued), R. Michael Lindsey, Cathy L. Reese, Joseph M. Asher and Herbert W. Mondros of Skadden, Arps, Slate, Meagher & Flom, Wilmington, Anna J. Rastor of Skadden, Arps, Slate, Meagher & Flom, New York City, for appellee American General Corp.

Joseph A. Rosenthal and Norman M. Monhait of Rosenthal, Monhait, Gross & Goddess, Wilmington, Edward Labaton (argued), and Ira A. Schochet of Goodkind, Labaton Rudoff & Sucharow, New York City, for appellees Unitrin Shareholders.

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

HOLLAND, Justice.

This is an appeal from the Court of Chancery's entry of a preliminary injunction on October 13, 1994, upon plaintiffs' motions in two actions: American General Corporation's ("American General") suit against Unitrin, Inc. ("Unitrin") and its directors; and a parallel class action brought by Unitrin stockholders.1 An interlocutory appeal was certified by the Court of Chancery...

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