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ALPINE INV. PARTNERS v. LJM2 CAPITAL MGMT.

C.A.No. 19339-NC.

794 A.2d 1276 (2002)

ALPINE INVESTMENT PARTNERS, et al., Plaintiffs, v. LJM2 CAPITAL MANAGEMENT, L.P., Defendant, v. LJM2 Co-Investment, L.P. and Partnership Services, LLC., Nominal Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: March 14, 2002.

Revised March 28, 2002.

Attorney(s) appearing for the Case

Michael P. Goldman, Peter J. Walsh, Jr., Richard L. Renck, Potter Anderson & Corroon, LLP, Wilmington, Delaware, Joseph M. McLaughlin, Michelle B. Cherende, Simpson Thacher & Bartlett, New York City, for plaintiffs.

Craig B. Smith, David A. Jenkins, Smith, Katzenstein & Furlow, LLP, Wilmington, Delaware, for defendants.

Henry E. Gallagher, Jr., Arthur G. Connolly, III, Connolly Bove Lodge & Hutz, LLP, Wilmington, Delaware, Jeffrey Q. Smith, Susan F. DiCicco, King & Spalding, New York City, for nominal defendants.

OPINION

JACOBS, Vice Chancellor.

In this action, brought under 6 Del.C. §§ 17-110 and 17-111, the plaintiffs, who are limited partners of LJM2 Co-Investment, L.P., a Delaware limited partnership ("LJM2" or "the Partnership"), seek a determination that they properly removed the defendant LJM2 Capital Management, L.P. ("Capital Management") as the General Partner, and installed Partnership Services, LLC ("Partnership Services") as the new...

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