TRACINDA CORP. v. DAIMLERCHRYSLER AG

Nos. 05-2363, 05-2482.

502 F.3d 212 (2007)

*TRACINDA CORPORATION, Appellant v. DAIMLERCHRYSLER AG, a Federal Republic of Germany Corporation; Daimler-Benz AG, a Federal Republic of Germany Corporation; Jurgen Schrempp, a citizen of the Federal Republic of Germany; Manfred Gentz, a citizen of the Federal Republic of Germany; Hilmar Kopper, a citizen of the Federal Republic of Germany *(Caption Amended as per the Clerk's 8/24/07 Order). In re DaimlerChrysler AG Securities Litigation DaimlerChrysler AG; Daimler-Benz AG, Jurgen Schrempp, and Manfred Gentz, Appellants.

United States Court of Appeals, Third Circuit.

Opinion Filed: September 18, 2007.


Attorney(s) appearing for the Case

Natalie J. Haskins, Esquire, Alan J. Stone, Esquire, Jay N. Moffitt, Esquire, Morris, Nichols, Arsht & Tunnell, Wilmington, DE, Terry N. Christensen, Esquire (Argued), Mark G. Krum, Esquire, Eric P. Early, Esquire, Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro, LLP, Los Angeles, CA, Julie E. Kamps, Esquire, William G. McGuinness, Esquire, Fried, Frank, Harris, Shriver & Jacobson, LLP, New York, NY, for Appellant/Cross-Appellee Tracinda Corporation.

Thomas J. Allingham, III, Esquire, Robert S. Saunders, Esquire, Skadden, Arps, Slate, Meagher & Flom, LLP, Wilmington, DE, Jonathan J. Lerner, Esquire (Argued), Lea H. Kuck, Esquire, Joseph N. Sacca, Esquire, Skadden, Arps, Slate, Meagher & Flom, LLP, New York, NY, for Appellees/Cross-Appellants DaimlerChrysler AG, Daimler-Benz AG, Jurgen Schrempp and Manfred Gentz.

Jeffrey A. Barist, Esquire (Argued), Douglas W. Henkin, Esquire, Josh Porter, Esquire, Milbank, Tweed, Hadley & McCloy, LLP, New York, NY, for Defendant/Appellee Hilmar Kopper.

Before: RENDELL, CHAGARES and ROTH, Circuit Judges.


OPINION

ROTH, Circuit Judge:

This appeal arises from the 1998 merger of Daimler-Benz AG, a German corporation and owner of the Mercedes-Benz brand, and Chrysler Corporation, one of the "Big Three" American automakers. Prior to closing, the merger had been billed as a "merger of equals," with management of the new company, DaimlerChrysler AG, to be shared equally between former Daimler-Benz and Chrysler executives. Shortly after the merger, however, several...

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