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ASPEN ADVISORS v. UNITED ARTISTS THEATRE

C.A. No. 20010.

843 A.2d 697 (2004)

ASPEN ADVISORS LLC, Heartland Capital Corp. and Heartland Capital Corp. Pension Plan & Trust, Plaintiffs, v. UNITED ARTISTS THEATRE COMPANY, Regal Entertainment Group, Anschutz Investment Group LLC, the Anschutz Corporation, Anschutz Investment Fund L.P. Uams, Inc., and Philip F. Anschutz, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: January 16, 2004.

Attorney(s) appearing for the Case

Pamela S. Tikellis and Robert J. Kriner, Jr., Chimicles & Tikellis, L.L.P., Wilmington; Michael J. Freed, Much Shelist Freed Deneberg Ament & Rubenstein, P.C., Chicago, IL, for Plaintiffs.

William M. Lafferty, Frederick H. Alexander, and Charles D. Reed, Morris, Nichols, Arsht & Tunnell, Wilmington; Andrew R. Shoemaker, and Christopher J. Walsh, Hogan & Hartson, L.L.P., Denver, CO, for Defendants.

OPINION

STRINE, Vice Chancellor.

In this case, plaintiffs who held warrants to buy common stock in United Artists Theatre Company ("United Artists") claim that their contractual rights were violated. The defendants, who consist of United Artists, its ultimate controlling stockholder, Philip Anschutz, and other entities controlled by Anschutz, have moved to dismiss the complaint.

The plaintiffs assert two...

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