Kleinman v. Saminsky

Wolcott, Justice:

This is an appeal from the approval by the Chancellor of an agreement settling a derivative action brought on behalf of the ten Keystone Custodian Funds (hereafter “the Funds”) against the Trustee of the Funds, Keystone Custodian Funds, Inc., (hereafter “Keystone”), its directors, and The Keystone Company of Boston (hereafter “Keystone of Boston”), a wholly-owned subsidiary of' Keystone, and the sole underwriter of certificates of participation in the Funds. Both corporate defendants are Delaware corporations.

The Funds are ten common law trusts created in 1935. Each fund is…