Loral Corp. v. Sanders Associates, Inc.

OPINION ON STIPULATION

MURRAY M. SCHWARTZ, Chief Judge.

Plaintiffs in this takeover litigation, Loral Corporation (“Loral”) and LC Acquiring Corporation (“LC”), seek to purchase ten million shares of the outstanding common stock of defendant Sanders Associates, Inc. (“Sanders”). Plaintiffs moved for a temporary restraining order enjoining Sanders and defendant Charles M. Oberly, Attorney General of the State of Delaware, from seeking to enforce against them the Delaware Tender Offer Act, 8 Del.C.Ann. § 203 (1983). 1 Plaintiffs did not, however, request a hearing on the motion. Two days later,…