In re BHC COMMUNICATIONS, INC. SHAREHOLDER LITIGATION.
In re United Television, Inc., Shareholder Litigation.
Court of Chancery of Delaware, New Castle County.https://leagle.com/images/logo.png
Argued: March 14, 2001.
Decided: June 4, 2001.
Attorney(s) appearing for the Case
Joseph A. Rosenthal, Esquire, Morris, Rosenthal, Gross & Goddess, P.A., Pamela S. Tikellis, Esquire, Chimicles & Tikellis, Wilmington, Delaware; Judith L. Spanier, Esquire, (argued), Abbey Gardy, New York, New York; Paul J. Geller, Esquire, Howard K. Coates, Jr., Esquire, (argued), Cauley Geller Bowman & Coates, Boca Raton, Florida; Aaron L. Brody, Esquire, Stull Stull & Brody, New York, New York; Lawrence D. Levit, Esquire, Wolf Popper LLP, New York, New York; Mark A. Topaz, Esquire, Bala Cynwyd, Pennsylvania; Attorneys for Plaintiffs.
Stephen J. Rothschild, Esquire, (argued), Robert S. Saunders, Esquire, Paul J. Lockwood, Esquire, Skadden Arps Slate Meagher & Flom, Wilmington, Delaware, Attorneys for Defendants Chris-Craft Industries, Inc., Herbert J. Siegel, John C. Siegel, William D. Seigel, and Joelen K. Merkel.
Jesse A. Finkelstein, Esquire, (argued), Peter B. Ladig, Esquire, Richards, Layton & Finger, Wilmington, Delaware, Attorneys for United Television, Inc., Norman Perlmutter, James D. Hodgson, Howard F. Roycroft, and Evan C. Thompson in C.A. No. 18218.
Donald J. Wolfe, Jr., Esquire, (argued), Matthew E. Fischer, Esquire, Potter Anderson & Corroon, Jane W. Parver, Esquire, Kay, Scholer, Fierman, Hays & Handler, New York, New York, Attorneys for BHC Communications, Inc., John L. Eastman, Barry S. Greene, Laurence M. Kashdin and Morgan L. Miller, in C.A. No. 18209, and John L. Eastman in C.A. No. 18218.
Court of Chancery of Delaware, New Castle County.
OPINION
LAMB, Vice Chancellor.
I.
These consolidated actions arise out of a series of merger agreements between an unrelated acquirer and each of three Delaware corporations that, together, comprise a "family" of corporate entities. The plaintiffs sue as representatives of the public minority stockholders of the two subsidiary corporations. Their complaints allege claims of breach of fiduciary duty against the ultimate parent corporation and against...
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