Supreme Court of Delaware

Dismissal of a claim of improper proxy disclosure in a purported class action brought by stockholders challenging a merger transaction is affirmed where the court of chancery correctly determined that the alleged duty of disclosure violation failed to state a legally sufficient claim for either compensatory or nominal damages.

Appellate Information

• Decided 03/13/2006
• Published 03/13/2006

Judges

• JACOBS, Justice., Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Seth D. Rigrodsky (argued), Ralph N. Sianni and Brian D. Long, Esquires, of Milberg Weiss Bershad & Schulman LLP, Wilmington, Delaware;  Steven G. Schulman, Richard Weiss and Laura Gundersheim, Esquires, of Milberg Weiss Bershad & Schulman LLP, New York, New York;  Of Counsel:  Peter D. Bull, Esquire, of Bull & Lifshitz, LLP, New York, New York;  for Appellants.


• For Appellees:
  
• Jesse A. Finkelstein, Michael R. Robinson and Lisa Z. Brown, Esquires, of Richards, Layton & Finger, Wilmington, Delaware;  Of Counsel:  Michael A. Cooper (argued), Sharon L. Nelles and Keith Levenberg, Esquires, of Sullivan & Cromwell LLP, New York, New York;  Nancy E. Schwarzkopf, Esquire, of JP Morgan Chase, New York, New York;  for Appellee Harrison.