Court of Chancery of Delaware, New Castle County.https://leagle.com/images/logo.png
Submitted: February 17, 2004.
Decided February 17, 2004.
Attorney(s) appearing for the Case
Carmella P. Keener, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, DE; Steven G. Schulman, Seth D. Rigrodsky, Ralph N. Sianni, Milberg Weiss Bershad Hynes & Lerach, L.L.P., Wilmington, DE and New York City; U. Seth Ottensoser, Bernstein Liebhard & Lifshitz, L.L.P., New York City; Emily C. Komlossy, Lynda Grant, Goodkind Labaton Rudoff & Sucharow, L.L.P., New York City; Stephen T. Rodd, James S. Notis, Evan J. Kaufman, Abbey Gardy, L.L.P., New York City, for the Plaintiffs.
R. Franklin Balotti, Allen M. Terrell, Jr., J. Travis Laster, Thad J. Bracegirdle, David A. Felice, Richards, Layton & Finger, P.A., Wilmington, DE; Harvey Kurzweil, Richard W. Reinthaler, James P. Smith, III, John E. Schreiber, Dewey Ballantine, L.L.P., New York City, for the MONY Defendants.
David C. McBride, Adam W. Poff, Young Conaway Stargatt & Taylor, L.L.P., Wilmington, DE; John H. Hall, Jeffrey I. Lang, Erik Bierbauer, Debevois & Plimpton, L.L.P., New York City, for Defendants AXA Financial, Inc. and AIMA Acquisition Co.
Court of Chancery of Delaware, New Castle County.
OPINION
LAMB, Vice Chancellor.
I.
The plaintiffs request a preliminary injunction against a stockholder vote on a stock-for-cash merger between two companies engaged in the insurance industry. The plaintiffs allege that the defendant board, having decided to put the company up for sale, did not fulfill its duty to seek the best transaction reasonably available to the stockholders. Specifically, the plaintiffs...
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