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ZUPNICK v. GOIZUETA

Civ. A. No. 14874.

698 A.2d 384 (1997)

Melvyn ZUPNICK, Plaintiff, v. Roberto C. GOIZUETA, Cathleen P. Black, Warren E. Buffett, M. Douglas Ivester, Susan B. King, Herbert A. Allen, Charles W. Duncan, Jr., James D. Robinson, III, Peter v. Ueberroth, Ronald W. Allen, Donald E. McHenry, Paul F. Oreffice, James B. Williams, William B. Turner, and The Coca-Cola Company, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: January 21, 1997.

Attorney(s) appearing for the Case

Norman M. Monhait, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington; and A. Arnold Gershon, P.C., New York City, for Plaintiff.

Lawrence C. Ashby, Ashby & Geddes, Wilmington, for Roberto C. Goizueta.

A. Gilchrist Sparks, III, Jon E. Abramczk and Jeffrey R. Wolters, Morris, Nichols, Arsht & Tunnell, Wilmington, for Defendants other than Roberto C. Goizueta.

OPINION

JACOBS, Vice Chancellor.

Pending are motions to dismiss this stockholder's derivative action which claims that the directors of The Coca Cola Company ("Coca Cola" or "the corporation") committed corporate waste by granting certain stock options to Coca Cola's Chief Executive Officer, Roberto C. Goizueta ("Goizueta"). The primary thrust of the motion is that the plaintiff failed to make a pre-suit demand upon the corporation's board of directors...

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