SKEEN v. JO-ANN STORES, INC.

No. 448, 1999.

750 A.2d 1170 (2000)

William M. SKEEN and Jacqueline L. Skeen, Plaintiffs Below, Appellants, v. JO-ANN STORES, INC., House of Fabrics, Inc., Alan Rosskamm, Brian P. Carney, David E. Bolen, Jane A. Aggers, John W. Hermsen, R.N. Hankin, and H. Michael Hect, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: May 3, 2000.


Attorney(s) appearing for the Case

Ronald A. Brown, Jr., of Prickett, Jones & Elliott, Wilmington, Delaware, for Appellants.

Allen M. Terrell, Jr., (argued), Srinivas M. Raju, Michael D. Allen and Peter B. Ladig, of Richards, Layton & Finger, Wilmington, Delaware, and David J. Hooker, Keith L. Carson and Lisa R. Battaglia, of Thompson, Hine & Flory, LLP, Cleveland, Ohio, for Appellees.

Before VEASEY, Chief Justice, HARTNETT and BERGER, Justices.


BERGER, Justice.

In this appeal, we consider the adequacy of corporate disclosures to minority stockholders who were "cashed out" in a merger approved by the majority stockholder. The minority stockholders complain that they were not given enough financial information to decide whether to accept the merger consideration or seek appraisal. They say, in essence, that the settled law governing disclosure requirements for mergers...

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