Supreme Court of Delaware

A corporation could validly initiate a reverse stock split and selectively dispose of the fractional interests held by stockholders who no longer hold whole shares, under section 155 of the Delaware General Corporation Law.

Appellate Information

• Decided 11/25/2002
• Published 11/25/2002

Judges

• VEASEY, Chief Justice., Before VEASEY, Chief Justice, HOLLAND and STEELE, Justices.

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Ronald A. Brown, Jr., Esquire, and Paul A. Fioravanti, Jr. Esquire (argued), of Prickett Jones & Elliott, P.A., Wilmington, Delaware;  Of Counsel:  Arthur T. Susman, Esquire, of Susman & Watkins, Chicago, Illinois, for Appellants.


• For Appellees:
  
• Jesse A. Finkelstein, Esquire (argued), Daniel A. Dreisbach, Esquire, Peter B. Ladig, Esquire, Richard P. Rollo, Esquire, Paul D. Brown, Esquire, and Zoe A. Forrester, Esquire, of Richards, Layton, & Finger, Wilmington, Delaware;  Of Counsel:  Paul J. DiMaio, Esquire, of Avaya, Inc., Basking Ridge, New Jersey, for Appellees.