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SEIDMAN AND ASSOCIATES v. G.A. FINANCIAL

C.A. No. 20367.

837 A.2d 21 (2003)

SEIDMAN AND ASSOCIATES, L.L.C. and Lawrence B. Seidman, Plaintiffs, v. G.A. FINANCIAL, INC. and John M. Kish, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: October 7, 2003.

Attorney(s) appearing for the Case

Gregory P. Varallo, Richard P. Rollo, Richards, Layton & Finger, P.A., Wilmington, Delaware; Peter R. Bray, Bray, Chiocca & Miller, LLC, Parsippany, New Jersey, for the Plaintiffs.

William M. Lafferty, Charles D. Reed, Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware; Jeffrey J. Bresch, Reed Smith, LLP, Pittsburgh, Pennsylvania, for the Defendants.

OPINION AND ORDER

LAMB, Vice Chancellor.

I.

The plaintiffs in this case mounted a proxy contest to unseat the chairman of the board of directors of a publicly held Delaware corporation at its 2003 annual meeting. The outcome of the election was close, but the independent inspector of elections preliminarily reported that the insurgents' candidate lost by over 190,000 votes. In reaching that conclusion, the inspector disqualified two proxy...

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