Legal Opinion
Kahn v. Seaboard Corp.
Court of Chancery of Delaware
Decided January 14, 1993No. Civ. A. 11485PublishedCited by 69 opinions
1Opinion of the Court
OPINION
ALLEN, Chancellor.
The complaint purports to be brought derivatively on behalf of Seaboard Corporation against Seaboard’s controlling (75%) stockholder, Seaboard Flour Corporation (“Flour”) and three individuals who comprise the board of directors of Seaboard, two of whom are the controlling (71%) shareholders of Flour. The charge is that the individual defendants “required the Company to enter into numerous transactions with Flour ... which benefit Flour at the Company’s expense.” Cplt. ¶ 5. Identified are three transactions, only one of which is relevant to the present motion. It…
2Cases cited36 opinions
- Holmberg v. ArmbrechtSupreme Court of the United States · 1946
- Bailey v. GloverSupreme Court of the United States · 1875
- Lopez v. SwyerSupreme Court of New Jersey · 1973
- Gardner v. Panama RailroadSupreme Court of the United States · 1951
- Adams v. JankouskasSupreme Court of Delaware · 1982
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3Cited by69 opinions
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- Harold Kraft v. Wisdomtree Investments, Inc.Court of Chancery of Delaware · 2016
- Shearin v. E.F. Hutton Group, Inc.Court of Chancery of Delaware · 1994
- Carsanaro v. Bloodhound Technologies, Inc.Court of Chancery of Delaware · 2013
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