Levine v. Milton

SHORT, Vice Chancellor:

This is a double derivative suit brought by plaintiff on behalf of Oceanic Trading Company, Inc., (Oceanic), a Panamanian corporation, the sole stockholder of Darien Continental Corporation (Darien), also a Panamanian corporation. The complaint alleges three causes of action. First, that certain defendants wrongfully caused Darien to transfer shares which it held in The Equity Corporation, a Delaware corporation, and options with respect to such shares. The complaint prays that these transfers be declared null and void. Second, after realleging the facts set forth in…