Smith v. Good Music Station, Inc.

Seitz, Chancellor:

Plaintiff, a minority stockholder of the defendant, The Good Music Station, Inc. (“GMS”), seeks to enjoin or rescind a sale of its assets to the corporate defendant, RKO Tele-radio Pictures, Inc. (“RKO”). The individual defendants are directors of GMS and along with plaintiff form the entire board. Plaintiff seeks other relief against GMS and the individual directors.

This is the decision after final hearing.

This is a “different” kind of so-called sale of assets case because it is not contended by plaintiff that, apart from the so-called Smith and Straus offers hereinafter…