Weinress v. Bland

Seitz, Vice Chancellor:

The issue for determination is the validity of an order of sequestration.

Plaintiff instituted a stockholder’s derivative action against Universal Laboratories, Inc., a Delaware corporation (here called “Universal”) and a number of its officers and directors, one of whom is the defendant Morris H. Gotthilf (here called “Gotthilf”). In three of the counts of the complaint, plaintiff seeks a money judgment in excess of $500,000.00 against the individual defendants for acts of malfeasance. In the fourth count plaintiff seeks, inter alia, cancellation of Universal’s note…