Fike v. Ruger
Court of Chancery of Delaware
1Opinion of the Court
OPINION
LAMB, Vice Chancellor.
I. INTRODUCTION
This action concerns a joint venture formed in 1979 to purchase, hold and develop certain commercial real property. A written joint venture agreement was executed in 1981. In 1998, after years of losses, the joint venture agreed to sell the property. Seeking to participate in the distribution of sale proceeds, two minority members of the joint venture filed this complaint against their co-venturers and the joint venture itself. The complaint asserts claims for an accounting (Count I) and for declaratory and injunctive relief (Count II).
The principal…
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