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EMERALD PARTNERS v. BERLIN

C.A. No. 9700.

712 A.2d 1006 (1997)

EMERALD PARTNERS, a New Jersey Limited Partnership, Plaintiff, v. Ronald P. BERLIN, David L. Florence, Rex A. Sebastian, Theodore H. Strauss and Hall Financial Group Inc. (formerly May Petroleum Inc.), a Corporation of the State of Delaware, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: December 29, 1997.

Attorney(s) appearing for the Case

Gregory V. Varallo, Daniel A. Dreisbach, Raymond J. DiCamillo, and Russell C. Silberglied of Richards, Layton & Finger, Wilmington, for Plaintiff.

Edward M. McNally, Lewis H. Lazarus, and Joseph C. Schoell of Morris, James, Hitchens & Williams, Wilmington, for Individual Defendants.

Vernon R. Proctor of Bayard, Handelman & Murdoch, P.A., Wilmington, for Corporate Defendant.

OPINION

STEELE, Vice Chancellor.

Pending is defendants' motion to recover damages occasioned by this Court's grant of a preliminary injunction, later vacated by the Supreme Court, which had the effect of postponing a merger for five months. I find that defendants may recover provable damages up to the value of the substituted security posted by plaintiff.

Background

Emerald Partners ("Emerald") filed this action against May Petroleum...

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