ALASKA ELECTRICAL PENSION, FUND, Plaintiff Intervenor, Below Appellant,
v.
Stephen L. BROWN, Crady Family Trust, Michael Crady, Plaintiffs Below, Appellees, and
Lyon Homes, Inc., General William Lyon, William H. Lyon, Harold H. Greene, Arthur B. Laffer, and Lawrence M. Higby, James E. Dalton, Richard E. Frankel, Gary H. Hunt, and Alex Meruelo, Defendants Below, Appellees.
Supreme Court of Delaware.https://leagle.com/images/logo.png
Submitted: October 14, 2009.
Decided: January 14, 2010.
Attorney(s) appearing for the Case
R. Bruce McNew, Esquire of Taylor & McNew LLP, Wilmington, DE; Of Counsel: Randall J. Baron, Esquire (argued) and Kevin K. Green, Esquire of Coughlin, Stoia, Geller, Rudman & Robbins LLP, San Diego, CA for appellant.
Carmella P. Keener, Esquire of Rosenthal, Monhait & Goddess, P.A., Wilmington, DE; Pamela S. Tikellis, Esquire and Scott M. Tucker, Esquire of Chimicles & Tikellis, LLP, Wilmington, DE; Of Counsel: Carl L. Stine, Esquire (argued) of Wolf Popper LLP, New York, NY; Barroway Topaz Kessler Meltzer & Check, LLP, Radnor, PA; for appellees Stephen L. Brown, Crady Family Trust and Michael Crady.
Catherine G. Dearlove, Esquire, Ethan A. Shaner, Esquire, and Thomas A. Uebler, Esquire of Richards, Layton & Finger, P.A., Wilmington, DE; S. Mark Hurd, Esquire of Morris, Nichols, Arsht & Tunnell, Wilmington, DE; David C. McBride, Esquire and Danielle Gibbs, Esquire of Young, Conaway, Stargatt & Taylor, LLP of Wilmington, DE: Of Counsel: Michael G. Yoder, Esquire (argued) of O'Melveny & Myers LLP, Newport Beach, CA; for appellees General William Lyon and William H. Lyon.
Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS, and RIDGELY, Justices, constituting the Court
Supreme Court of Delaware.
RIDGELY, Justice.
This action originated with a tender offer by General William Lyon ("Lyon") of $93 per share for the outstanding shares of Lyon Homes, Inc., a Delaware corporation. On the same day the tender offer was announced, Plaintiff Intervenor-Appellant Alaska Electrical Pension Fund ("Alaska") filed a class action suit in the Superior Court of California. Two days later, individual stockholders filed two separate class actions in the Delaware Court of Chancery...
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