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BORRUSO v. COMMUNICATIONS TELESYSTEMS

C.A. No. 16316-NC.

753 A.2d 451 (1999)

Carl BORRUSO and William Lee, Petitioners, v. COMMUNICATIONS TELESYSTEMS INTERNATIONAL, Respondent.

Court of Chancery of Delaware, New Castle County.

Decided: September 24, 1999.

Attorney(s) appearing for the Case

David A. Jenkins (argued), of Smith, Katzenstein & Furlow, LLP, Wilmington; of counsel, Ira T. Kasdan, Galland, Kharasch, Greenberg, Fellman & Swirsky, P.C., Washington, D.C., for Petitioners Carl Borruso and William Lee.

Michael A. Weidinger (argued), of Morris, James, Hitchens & Williams, Wilmington; of counsel, Carl W. Sonne, San Diego, California, for Respondent Communications Telesystems International.

OPINION

LAMB, Vice Chancellor.

I. PRELIMINARY STATEMENT

In this appraisal action, filed pursuant to Section 262 of the Delaware General Corporation Law ("DGCL"), I am called upon to determine the fair value of the shares of common stock of WXL International, Inc. ("WXL"), a Delaware corporation, as of December 16, 1997, the date on which WXL was merged with and into its parent corporation, Communications Telesystems International ("CTS") (the ...

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