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REIS v. HAZELETT STRIP-CASTING CORP.

C.A. No. 3552-VCL.

28 A.3d 442 (2011)

Ginette REIS, Plaintiff, v. HAZELETT STRIP-CASTING CORPORATION, Stave Island Limited Partnership, R. William Hazelett, David N. Hazelett, Raymond J. Clavelle, Jr., Craig Snyder and Richard T. Hayden, Defendants.

Court of Chancery of Delaware.

Decided: January 21, 2011.

Corrected: February 1, 2011.

Attorney(s) appearing for the Case

Ronald A. Brown, Jr. , Marcus E. Montejo , Prickett, Jones & Elliott, P.A., Wilmington, Delaware; Attorneys for Plaintiff.

James S. Green , Kevin A. Guerke , Jared T. Green , Seitz, Van Ogtrop & Green, P.A., Wilmington, Delaware; Attorneys for Defendants.

OPINION

LASTER, Vice Chancellor.

The controller of Hazelett Strip-Casting Corporation cashed out the minority shares held by the estate of his deceased brother via a reverse stock split. The plaintiff sued on behalf of the beneficiaries of the estate who would have received shares but for the reverse split. I hold that the reverse split was not entirely fair and award damages of $1,268,850, plus pre- and post-judgment interest, less an offset for...

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