Enstar Corp. v. Senouf

MOORE, Justice:

This appeal by Enstar Corporation (Ens-tar) presents issues relating to the perfection of stock appraisal rights under 8 Del. C. § 262 (1983) by persons whose shares are held in “street” or nominee names. Thus, we are required to address the definition of the term “stockholder” in Section 262(a).

Plaintiffs Lucie Senouf and Margaret S. Earle brought these consolidated appraisal actions in the Court of Chancery against Enstar following a merger between Enstar and Unimar Subsidiary, Inc. (Unimar). The plaintiffs’ shares were registered in the name of a nominee, CEDE & Co., (CEDE),…