Bruce v. E. L. Bruce Co.

Marvel, Vice Chancellor:

Plaintiffs together own or are beneficially interested in 5% of the issued and outstanding common stock of E. L. Bruce Company. C. Arthur Bruce is chairman of the Bruce board of directors and has been a shareholder and director of such corporation since 1922. Plaintiffs sue allegedly for the benefit of the Bruce stockholders, and at the argument yesterday additional parties plaintiff were permitted to intervene in this action which is one to enjoin the merging of the corporate defendants. The defendant, Empire National Corporation, holds approximately 81.8% of Bruce’s…