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KAHN v. ROBERTS

No. 9, 1996.

679 A.2d 460 (1996)

Alan KAHN, derivatively on Behalf of DEKALB GENETICS CORPORATION, Plaintiff Below, Appellant, v. Charles C. ROBERTS, Richard O. Ryan, Paul R. Judy, Bruce P. Bickner, Thomas H. Roberts, III, Thomas H. Roberts, Jr., John R. Nelson, Douglas C. Roberts, Paul F. Cornelsen, Charles J. Arntzen, Allan Aves, H. Blair White and Dekalb Genetics Corporation, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: July 25, 1996.

Attorney(s) appearing for the Case

Gary W. Aber, Heiman, Aber & Goldlust, Wilmington, and Curtis V. Trinko and Timothy J. MacFall (argued), Law Offices of Curtis V. Trinko, L.L.P., New York City, for Appellant.

Martin P. Tully, Morris, Nichols, Arsht & Tunnell, Wilmington, and Jeremy G. Epstein (argued), Margaret A. Helen Macfarlane, and Ann M. Vermes, Shearman & Sterling, New York City, for Appellees Charles C. Roberts, Richard O. Ryan, Paul R. Judy, Bruce P. Bickner, John R. Nelson, Douglas C. Roberts, Paul F. Cornelsen, Charles J. Arntzen, Allan Aves and H. Blair White.

Stephen E. Jenkins, Ashby & Geddes, Wilmington, for Appellee DeKalb Genetics Corporation.

Edward P. Welch, Karen L. Valihura (argued), and Karen M. Bab, Skadden, Arps, Slate, Meagher & Flom, Wilmington, for Thomas H. Roberts, Jr. and Thomas H. Roberts, III.

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

WALSH, Justice.

Plaintiff Alan Kahn ("Kahn") appeals the dismissal of his claims of breach of the duties of care and disclosure in connection with a buyback of one-third of the outstanding stock of DeKalb Genetics Corporation ("DeKalb"). Kahn argues that the DeKalb directors' actions do not withstand the judicial scrutiny required under Unocal Corp. v. Mesa Petroleum Co., Del.Supr., 493 A.2d 946

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