Lewis v. Anderson

BROWN, Chancellor.

In capsule form this suit, at its inception, was a derivative action filed by a corporate shareholder. Various officers and directors of the corporation, as well as the corporation itself, were named as defendants. The suit attacks and seeks to set aside a series of employment related agreements entered into between the corporation and certain of its key officers and managerial personnel. Subsequent to the filing of the suit a third party, through a combined tender offer and merger, acquired all of the outstanding stock of the corporation, thus terminating the shareholder…