Raynor v. LTV Aerospace Corporation

OPINION ON PROPOSED SETTLEMENT AND DISMISSAL; COURT DECLINES TO APPROVE PROPOSAL

QUILLEN, Chancellor:

The parties have requested the Court to approve, without notice to the other dis senting stockholders, a proposed settlement and dismissal with prejudice of the above-captioned matter, which is a consolidation of three separate appraisal actions brought under the provisions of Section 262 of the Delaware General Corporation Law by four petitioning stockholders. For the reasons set forth below, the Court declines to do so. The Court commends counsel for the full and open manner this matter was…