ESOPUS CREEK VALUE LP v. HAUF

C.A. No. 2487-N.

913 A.2d 593 (2006)

ESOPUS CREEK VALUE LP, Black Horse Capital, LP, Black Horse Capital (QP) LP and Black Horse Capital Offshore Ltd., Plaintiffs, v. Mark S. HAUF, John Chalsty, Alan K. Greene, Leonard White, Clark A. Johnson, David Gale Wayne Henderson, Stuart Subotnick, I. Martin Pompadur, Harold F. Pyle, III, Bryce D. Elledge, Natalia Alexeeva and Metromedia International Group, Inc., a Delaware corporation, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: November 29, 2006.


Attorney(s) appearing for the Case

Elizabeth M. McGeever, Bruce E. Jameson, Paul A. Fioravanti, Jr., Laina M. Herbert, Prickett Jones & Elliott, P.A., Wilmington, DE; Marc R. Rosen, Kleinberg, Kaplan, Wolff & Cohen, P.C., New York City, for the Plaintiffs.

Daniel A. Dreisbach, Steven J. Fineman, Geoffrey G. Grivner, Daniel M. Silver, Richards, Layton & Finger, P.A., Wilmington, DE, for Defendant Metromedia International Group, Inc.

Todd C. Schiltz, Wolf, Block, Schoor and Solis-Cohen, LLP, Wilmington, DE, for Defendants Mark S. Hauf, John Chalsty, Alan K. Greene, Leonard White, Clark A. Johnson, David Gale, Wayne Henderson, Stuart Subotnick, I. Martin Pompadur, Harold F. Pyle, III, Bryce D. Elledge, Natalia Alexeeva.

Martin Flumenbaum, Daniel J. Leffell, Paul, Weiss, Rifkind, Wharton & Garrison, LLP, New York City, for all Defendants.


OPINION

LAMB, Vice Chancellor.

In Newcastle Partners, L.P. v. Vesta Insurance Group, Inc.1 this court considered whether there was any substantial conflict between its power, acting pursuant to 8 Del. C. § 211(c), to order a Delaware corporation to convene an annual meeting for the purpose of electing directors, and federal proxy regulations that, in normal circumstances, prohibit registered companies...

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