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DOUZINAS v. AMERICAN BUREAU OF SHIPPING

C.A. No. 1496-N.

888 A.2d 1146 (2006)

Kostas DOUZINAS, Nancy Douzinas, and Nautical Technology Corporation, Plaintiffs, v. AMERICAN BUREAU OF SHIPPING, INC., ABS Group of Companies, Inc., and ABS InfoLink, Inc., Defendants, and ABS Nautical Systems, LLC, Nominal Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: January 24, 2006.

Attorney(s) appearing for the Case

Vernon R. Proctor, Kurt M. Heyman, Patricia L. Enerio, Proctor Heyman, L.L.P., Wilmington, DE, for Plaintiffs.

Steven J. Balick, John G. Day, Lauren E. Maguire, Esquire, Ashby & Geddes, Wilmington, DE; George F. Chandler, III, Robert G. Moll, Hill Rivkins & Hayden, L.L.P., Houston, TX; Robert G. Clyne, John J. Sullivan, Hill Rivkins & Hayden, L.L.P., New York City, for Defendants.

OPINION

STRINE, Vice Chancellor.

I.

The plaintiffs — Kostas Douzinas, Nancy Douzinas, and Nautical Technology Corporation (the "Douzinases") — are minority members of nominal defendant ABS Nautical Systems, LLC ("Nautical Systems"). The Douzinases accuse the managing member of Nautical Systems, defendant ABS InfoLink, Inc. ("ABS InfoLink"), of breaching fiduciary duties it allegedly owed to Nautical Systems and its members. The Douzinases...

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