Legal Opinion
Union Chemical & Materials Corp. v. Cannon
Court of Chancery of Delaware
Decided February 11, 1959PublishedCited by 4 opinions
1Opinion of the Court
Southerland, Chief Justice:
This case seems to be unique. Plaintiff Cannon filed a derivative stockholder’s suit against certain defendants on behalf of Union Chemical & Materials Corporation, the corporate defendant. To compel the appearance of the individual defendants shares of stock of Union belonging to some of them were validly seized under the so-called sequestration statute (10 Del.C. § 366). Very shortly thereafter Union merged with Vulcan Materials Company, a New Jersey corporation, under the provisions of our merger statutes. See 8 Del.C. §§ 251 and 252.
What effect has the…
2Cases cited3 opinions
- Pennoyer v. NeffSupreme Court of the United States · 1878
- Plimpton v. . BigelowNew York Court of Appeals · 1883
- Cities Service Co. v. McDowellCourt of Chancery of Delaware · 1922
3Cited by4 opinions
- Registrar & Transfer Co. v. Director of Division of TaxationNew Jersey Superior Court Appellate Division · 1978
- Union Chemical & Materials Corp. v. CannonSupreme Court of Delaware · 1959
- Ford Motor Credit Co. v. ParteeLouisiana Court of Appeal · 1987
- Registrar & Transfer Co. v. DIR. DIV. OF TAX.New Jersey Superior Court Appellate Division · 1978