Michelson v. Duncan

HARTNETT, Vice Chancellor.

I

Plaintiff (Michelson) brought suit as a stockholder of Household Finance Corporation (“HFC”). Michelson, who sued derivatively on behalf of HFC, moved for and seeks partial summary judgment on the issue of liability of the individual defendants. The individual defendants, who are present and former members of HFC’s Board of Directors and the corporate defendant (HFC), also moved for summary judgment.

Michelson alleges that the individual defendants violated their fiduciary duties to HFC and its stockholders by the unauthorized modification of the terms of HFC’s 1966…