Legal Opinion
Lichtman v. RECOGNITION EQUIPMENT, INCORPORATED
Court of Chancery of Delaware
Decided July 26, 1972PublishedCited by 9 opinions
1Opinion of the Court
SHORT, Vice Chancellor.
Two issues are raised in this #262 appraisal proceeding. First, is it appropriate in such a proceeding to include a claim for the value of stock options lost by the claimant as a result of the merger ? Second, may a claimant who has demanded of the surviving corporation payment of the value of his shares now split his holdings to seek appraisal of a portion only?
The first question, in my opinion, must be answered in the negative. The right to appraisal is purely statutory. It is limited to stockholders of the merged corporation. The sole issue raised by a petition for…
2Cases cited3 opinions
- Southern Production Co. v. SabathSupreme Court of Delaware · 1952
- In re Northeastern Water Co.Court of Chancery of Delaware · 1944
- Meade v. Pacific Gamble Robinson Co.Court of Chancery of Delaware · 1947
3Cited by9 opinions
- Alabama By-Products Corp. v. Cede & Co. Ex Rel. Shearson Lehman Bros.Supreme Court of Delaware · 1995
- Kaye v. Pantone, Inc.Court of Chancery of Delaware · 1978
- Nelson v. Frank E. Best Inc.Court of Chancery of Delaware · 2000
- In Re Arthur Treacher's Fish & Chips of Ft. Lauderdale, Inc.Court of Chancery of Delaware · 1978
- Jones v. DickersonCourt of Chancery of Delaware · 1974
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