Lynch v. Vickers Energy Corp.

DUFFY, Justice:

This is a class action on behalf of stockholders of TransOcean Oil, Inc. (Trans-Ocean) who sold their shares pursuant to a tender offer by the majority stockholder.1

*499The pertinent facts appear in a prior opinion of this Court, Lynch v. Vickers Energy Corp., Del.Supr., 383 A.2d 278 (1977), and in two opinions by the Court of Chancery, 402 A.2d 5 (1979), and 351 A.2d 570 (1976), to which reference is made. We discuss the facts only as necessary for present purposes.

I

A majority of the issued and outstanding stock of TransOcean is held by defendant Vickers Energy Corporation…