Court of Chancery of Delaware

In a class action against a corporation, its former directors, and its former controlling shareholder alleging breach of fiduciary duty in connection with a cash-out merger, defendants' motion to dismiss for failure to state a claim is granted as to the corporate defendant and denied as to the individual defendants.

Appellate Information

• Decided 11/04/2005
• Published 11/28/2005

Judges

Court

• Court of Chancery of Delaware

Counsel

• For Appellant:
  
• Norman M. Monhait, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, DE;  Pamela S. Tikellis, Chimicles & Tikellis, L.L.P., Wilmington, DE;  Merrill G. Davidoff, Glen L. Abramson, Michael C. Dell' Angelo, Berger & Montague, P.C., Philadelphia, PA;  Jeffrey G. Smith, Demet Basar, Gustavo Bruckner, Wolf Haldenstein Adler Freeman & Herz, L.L.P., New York City;  Richard Brualdi, Sue Lee, The Brualdi Law Firm, New York City, for the Plaintiffs.


• For Appellees:
  
• Kenneth J. Nachbar, Morris Nichols Arsht & Tunnell, Wilmington, DE;  Marty Steinberg, Jeffrey W. Gutchess, Hunton & Williams, L.L.P, Miami, FL;  Michael D. Goldman, Stephen C. Norman, Potter Anderson & Corroon, L.L.P., Wilmington, DE;  Howard G. Kristol, Matt Neiderman, Duane Morris, L.L.P., Wilmington, DE;  James B. Weidner, Clifford Chance US, L.L.P., New York City;  John R. Roellke, Jeffrey H. Drichta, Clifford Chance US, L.L.P., Washington, DC, for the Defendants.