Krieger v. Anderson

Seitz, Chancellor:

This is a stockholder’s derivative action brought on behalf of Texas Fund, Inc. (“Fund”), a Delaware corporation, which has a net asset value of about $38,000,000. The complaint deals with the sale of the stock of Fund’s investment adviser and principal underwriter, Management Company (“Management” — not a defendant) to one of the defendants, Funds, Inc., which is a Delaware corporation, formed for the purpose of acquiring such stock. The other defendants are the stockholders of Management and the three non-affiliated directors of Fund.

*64Plaintiff claims that for $1,000,000 in…