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BOMARKO, INC. v. INTERN. TELECHARGE, INC.

C.A. Nos. 13052, 14727.

794 A.2d 1161 (1999)

BOMARKO, INC., et al., Petitioners, v. INTERNATIONAL TELECHARGE, INC., Respondent. Bomarko, Inc., et al., Plaintiffs, v. Ronald J. Haan, et al., Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: November 4, 1999.

Revised: November 16, 1999.

Attorney(s) appearing for the Case

Ronald A. Brown, Jr. (argued) of Prickett, Jones, Elliott & Kristol, Wilmington, Delaware, for plaintiffs/petitioners.

Lewis H. Lazarus, Michael A. Weidinger, Morris, James, Hitchens & Williams, Wilmington, Delaware, Michael R. Klein (argued), Leon B. Greenfield, Wilmer, Cutler & Pickering, Washington, D.C., for defendants/respondent.

OPINION

LAMB, Vice Chancellor.

I. INTRODUCTION

This is a consolidated appraisal and breach of fiduciary duty action filed in connection with a March 1993 merger in which the shares of International Telecharge, Inc. ("ITI" or the "Company") were cashed-out for $0.30 per share and ITI was merged into a corporation wholly-owned by Ronald J. Haan, ITI's chairman and CEO. Plaintiffs/petitioners, consisting principally of James D. Azzar and entities...

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