Supreme Court of Delaware

In an action for breach of contract and breach of fiduciary duty based on defendant corporate board's redemption of plaintiffs' stock after their post-retirement put rights expired, but before selling the company's government business division, the dismissal of the complaint is affirmed where the board exercised an express contractual right in so doing.

Appellate Information

• Decided 04/07/2010
• Published 04/07/2010

Judges

• STEELE, Chief Justice, HOLLAND and RIDGELY, Justices for the Majority., Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the court en banc.

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Henry E. Gallagher, Jr. (argued), Connolly Bove Lodge & Hutz LLP, Wilmington, Delaware, attorney for appellant Gerd Wittkemper., Peter J. Walsh, Jr. (argued), Gregory A. Inskip, and Scott B. Czerwonka, Potter Anderson & Corroon LLP, Wilmington, Delaware for appellant Joseph Nemec.


• For Appellees:
  
• David J. Teklits and Kevin M. Coen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware; Of Counsel: Everett C. Johnson, Jr. (argued), J. Christian Word and Rebecca S. Giltner, Latham & Watkins LLP, Washington, DC for appellees.