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KRIM v. PRONET, INC.

C.A. No. 15873.

744 A.2d 523 (1999)

Jerry KRIM, Plaintiff, v. PRONET, INC., Jackie R. Kimzey, David J. Vucina, Max D. Hopper, Harvey B. Cash, and Edward E. Jungerman, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: September 14, 1999.

Attorney(s) appearing for the Case

Irving Morris of Morris and Morris, Wilmington, Delaware; of counsel: Law Firm of Harvey Greenfield, New York, New York, for Plaintiffs.

James L. Holzman and Ronald A. Brown, Jr. of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Delaware; of counsel: Charles W. Schwartz of Vinson & Elkins, Houston, Texas, for Defendants.

OPINION

STEELE, V.C.

In his Amended Complaint ("Complaint"), shareholder Jerry Krim ("Plaintiff") alleges that the directors of ProNet, Inc. ("ProNet") breached their fiduciary duty by failing to secure a higher exchange ratio for ProNet shares in a merger with MetroCall Inc. ("MetroCall"), and by placing their personal interests above the interests of ProNet stockholders during the negotiations with MetroCall. Later, in his Answering Brief to Defendant...

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