Legal Opinion
Blasius Industries, Inc. v. Atlas Corp.
Court of Chancery of Delaware
Decided July 25, 1988No. Civ. A. 9720PublishedCited by 113 opinions
1Opinion of the Court
OPINION
ALLEN, Chancellor.
Two cases pitting the directors of Atlas Corporation against that company’s largest (9.1%) shareholder, Blasius Industries, have been consolidated and tried together. Together, these cases ultimately require the court to determine who is entitled to sit on Atlas’ board of directors. Each, however, presents discrete and important legal issues.
The first of the cases was filed on December 30, 1987. As amended, it challenges the validity of board action taken at a telephone meeting of December 31, 1987 that added two new members to Atlas’ seven member board. That action…
2Cases cited34 opinions
- Aronson v. LewisSupreme Court of Delaware · 1984
- Smith v. Van GorkomSupreme Court of Delaware · 1985
- Unocal Corp. v. Mesa Petroleum Co.Supreme Court of Delaware · 1985
- Grobow v. PerotSupreme Court of Delaware · 1988
- Moran v. Household International, Inc.Supreme Court of Delaware · 1985
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3Cited by113 opinions
- Paramount Communications Inc. v. QVC Network Inc.Supreme Court of Delaware · 1994
- Arnold v. Society for Savings Bancorp, Inc.Supreme Court of Delaware · 1994
- Stroud v. GraceSupreme Court of Delaware · 1992
- Gantler v. StephensSupreme Court of Delaware · 2009
- Unitrin, Inc. v. American General Corp.Supreme Court of Delaware · 1995
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