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VonFELDT v. STIFEL FINANCIAL CORP.

No. 357, 1997.

714 A.2d 79 (1998)

Dewayne R. VonFELDT, Plaintiff Below, Appellant, v. STIFEL FINANCIAL CORP., a Corporation of the State of Delaware, Defendant Below, Appellee.

Supreme Court of Delaware.

Decided: June 3, 1998.

Rehearing Denied August 7, 1998.

As Revised August 7, 1998.

Attorney(s) appearing for the Case

Robert J. Valihura, of Duane, Morris & Heckscher, Wilmington; and Matthew A. Taylor (argued), of Duane, Morris & Heckscher, Philadelphia, Pennsylvania, for appellant.

Thomas A. Beck, and Megan Semple Greenberg, of Richards, Layton & Finger, Wilmington; and Gerard T. Carmody (argued) and J. Thomas Archer, of Bryan Cave L.L.P., St. Louis, Missouri, for appellee.

Before VEASEY, C.J., WALSH, HOLLAND and BERGER, JJ., and RIDGELY, President Judge, constituting the Court en Banc.

VEASEY, Chief Justice:

This appeal challenges a decision of the Court of Chancery denying a corporate director's request for indemnification and advance of legal fees and expenses. The Court of Chancery ruled that defendant corporation's bylaws do not entitle plaintiff to be indemnified or to receive advance of legal fees and expenses. The trial court also ruled that no contract exists whereby defendant must pay for plaintiff's defense in pending litigation. We reverse...

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