In re The TOPPS COMPANY SHAREHOLDERS LITIGATION
The Upper Deck Company and Northwood Investors LLC, Plaintiffs,
v.
The Topps Company, Inc., Arthur T. Shorin, Jack H. Nusbaum, Allan A. Feder, Stephen D. Greenberg, Ann Kirschner, David M. Mauer, Richard Tarlow, Madison Dearborn Partners LLC, Madison Dearborn Capital Partners V-A, L.P., Madison Dearborn Capital Partners V Executive-A, L., The Tornante Company LLC, Tornante-MDP Joe Holding LLC, and Tornante-MDP Joe Acquisition Corp., Defendants.
Court of Chancery of Delaware.https://leagle.com/images/logo.png
Submitted: June 11, 2007.
Decided: June 14, 2007.
Attorney(s) appearing for the Case
Seth D. Rigrodsky, Esquire, Brian D. Long, Esquire, Rigrodsky & Long, P.A., Wilmington, Delaware, Executive Committee Co-Chairs for Plaintiffs.
Robert M. Kornreich, Esquire, Carl L. Stine, Esquire, Wolf Popper, LLP, New York, New York, Of Counsel for Executive Committee Co-Chair for Plaintiffs.
Joseph A. Rosenthal, Esquire, Rosenthal, Monhait & Goddess, P.A., Wilmington, Delaware, Liaison Counsel for Plaintiffs.
Bruce L. Silverstein, Esquire, Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware, Attorneys for Plaintiffs The Upper Deck Company and Northwood Investors LLC.
Gregory P. Williams, Esquire, Richards, Layton & Finger, P.A., Wilmington, Delaware, Attorneys for Defendants The Topps Company, Inc., Arthur T. Shorin, Jack H. Nusbaum, Allan A. Feder, Stephen D. Greenberg, Ann Kirschner, David M. Mauer and Richard Tarlow.
Robert K. Payson, Esquire, Potter, Anderson & Corroon, LLP, Wilmington, Delaware, Attorneys for Defendants Madison Dearborn Partners LLC, Madison Dearborn Capital Partners V-A, L.P., Madison Dearborn Capital Partners V-C, L.P., The Tornante Company LLC, Tornante-MDP Joe Holding LLC and Tornante-MDP Joe Acquisition Corp.
Court of Chancery of Delaware.
OPINION
STRINE, Vice Chancellor.
I. Introduction
The Topps Company, Inc. is familiar to all sports-loving Americans. Topps makes baseball and other cards (think Pokemon), this is Topps's so-called "Entertainment Business." It also distributes Bazooka bubble gum and other old-style confections, this is Topps's "Confectionary Business." Arthur Shorin, the son of Joseph Shorin, one of the founders of Topps and the inspiration for "Bazooka Joe...
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