Singer v. Magnavox Co.

*971DUFFY, Justice

(for the majority):

In this action attacking a statutory corporate merger, plaintiffs appeal from an order of the Court of Chancery granting defendants’ motion to dismiss the complaint for failure to state a claim upon which relief can be granted. Del.Ch., 367 A.2d 1349 (1976).

I

The litigation centers on a merger in July 1975 of The Magnavox Company (Magna-vox) with T.M.C. Development Corporation (T.M.C.). Plaintiffs owned common stock of Magnavox at the time of the merger and they bring this class action for all persons who held such shares on the day before the merger.…