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AGRANOFF v. MILLER

Civ.A. No. 16795.

791 A.2d 880 (2001)

Stuart AGRANOFF, L. David Callaway, III and EMS Corp., Plaintiffs, and Citicorp Venture Capital, Ltd. Intervenor-Plaintiff, v. Edward M. MILLER and William A. De Lorenzo, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: May 15, 2001.

Revised: November 8, 2001.

Attorney(s) appearing for the Case

Joel E. Friedlander of Bouchard, Margules & Friedlander, Wilmington; Of Counsel: Stuart L. Shapiro, of Shapiro Forman & Allen, New York City, for Plaintiffs.

Martin P. Tully and Jon E. Abramczyk of Morris, Nichols, Arsht & Tunnell, Wilmington, for Intervenor-Plaintiff.

Peter J. Walsh, Jr., and Michael A. Pittenger, of Potter Anderson & Corroon, Wilmington, for Defendants.

OPINION

STRINE, Vice Chancellor.

This opinion addresses the remand order of the Supreme Court that required this court to determine the price at which certain warrants held by Banker's Trust (the "Warrants" or "Warrant Shares") could have been purchased by either plaintiff Citicorp Venture Capital, Ltd. ("CVC") or EMS Corp. ("EMS") in 1998. The Warrants were purchased in autumn 1998 by defendant Edward M. Miller as part of Miller's conspiracy with EMS director...

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