Hamilton Partners, L.P. v. Englard

OPINION

LASTER, Vice Chancellor.

Plaintiff Hamilton Partners, L.P. owns approximately 4% of the common stock of nominal defendant New York Health Care, Inc. (“NYHC”), a de-listed New York corporation. Nominal defendant The Bio Balance Corp. (“Bio Balance”), a Delaware corporation, is a wholly owned subsidiary of NYHC. Three of the individual defendants — Murry Englard, Howard Berg and Yoram Hacohen (the “Director Defendants”) — serve as directors of both NYHC and Bio Balance. The second amended complaint (the “Complaint”) asserts a derivative claim on behalf of NYHC and a double derivative…