Kahn v. Household Acquisition Corp.

WALSH, Justice.

This is an appeal from a decision of the Court of Chancery, after trial, in a class action by minority shareholders of Wien Air Alaska, Inc. (“Wien”) arising out of the merger of Wien with its principal shareholder, Household Acquisition Corporation (“HAC”), a wholly-owned subsidiary of Household Finance Corporation (“HFC”) (collectively “Household”). Plaintiff-below, Ruth Kahn (“Kahn”), on behalf of the class, alleged that HAC breached its fiduciary duty to the minority class by manipulation of the timing and terms of the merger and through non-disclosure of essential…