Theodora Holding Corporation v. Henderson

MARVEL, Vice Chancellor:

Plaintiff, which was formed in May of 1967 by the defendant Girard B. Henderson’s former wife, Theodora G. Henderson, is the holder of record of 11,000 of the 40,500 issued and outstanding shares of common stock of the defendant Alexander Dawson, Inc. It sues derivatively as well as on its own behalf for an accounting by the individual defendants for the losses allegedly sustained by the corporate defendant and the concomitant improper gains allegedly received by the individual defendants as a result of certain transactions of which plaintiff complains. However, the…