Kramer v. Western Pacific Industries, Inc.

HORSEY, Justice:

In this corporate matter we consider once again the consequences of a cash-out merger upon the standing of a shareholder to pursue a claim of wrongdoing against management. Plaintiff, Larry Kramer, owner of 200 shares of common stock of defendant, Western Pacific Industries, Incorporated (“Western Pacific”), prior to a merger of Western Pacific into Danaher Corporation (“Danaher”), appeals the Court of Chancery’s dismissal of his pre-merger suit for loss of standing and the Court’s grant of summary judgment for Western Pacific. Kramer v. Western Pacific Ind., Inc., Del.Ch.,…