In re GENERAL MOTORS CLASS H SHAREHOLDERS LITIGATION.
Court of Chancery of Delaware, New Castle County.https://leagle.com/images/logo.png
Submitted: March 17, 1999.
Decided: March 22, 1999.
Attorney(s) appearing for the Case
Joseph A. Rosenthal, Norman M. Monhait, of Rosenthal, Monhait, Gross & Goddess, Wilmington, Delaware, Pamela S. Tikellis, Robert J. Kriner, Jr., of Chimicles & Tikellis LLP, Wilmington, Delaware; Neil L. Selinger, William R. Weinstein, of Lowey Dannenberg Bemporad & Selinger, White Plains, New York, Lawrence Sucharow, Jonathan M. Plasse, of Goodkind, Labaton, Rudoff & Sucharow, New York City, David J. Bershad, Steven G. Shulman, Joshua H. Vinik, Kim E. Miller, of Milberg Weiss Bershad Hynes & Lerach LLP, New York City, Vincent R. Cappucci, of Bernstein Litowitz Berger & Grossman LLP, New York City, of counsel for Plaintiffs.
R. Franklin Balotti, Lisa A. Schmidt, of Richards, Layton & Finger, Wilmington, Delaware; Michael J. Basford, of General Motors Corporation, Detroit, Michigan, Robert J. Kopecky, Alex Dimitrief, of Kirkland & Ellis, Chicago, Illinois, of counsel for General Motors Corporation.
Grover C. Brown, Joseph C. Schoell, of Morris, James, Hitchens & Williams, Wilmington, Delaware; Dennis J. Block, Stephen A. Radin, of Weil, Gotshal & Manges LLP, New York City, of counsel, for Individual Defendants.
Court of Chancery of Delaware, New Castle County.
OPINION
STRINE, Vice Chancellor.
This action challenges the fairness of transactions (the "Hughes Transactions") that split up General Motors Corporation's wholly owned Hughes Electronic Corporation ("Hughes Electronic") subsidiary. The plaintiffs purportedly bring this action on behalf of themselves and other holders of the Class H Common Stock ("GMH shares or stock") of General Motors ("GM"). GMH stock derived much of its value from the performance of...
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