Legal Opinion
Shamrock Holdings, Inc. v. Polaroid Corp.
Court of Chancery of Delaware
Decided January 6, 1989No. Civ. A. Nos. 10075, 10079PublishedCited by 26 opinions
1Opinion of the Court
OPINION
BERGER, Vice-Chancellor.
This case involves an attack upon the validity of an employee stock ownership plan adopted by Polaroid Corporation (“Polaroid”) 0on July 12, 1988. Unlike most litigation precipitated by an attempted takeover, this case proceeded to trial while the tender offer was outstanding and the Court is rendering its final decision on the merits.
Plaintiffs, Shamrock Holdings, Inc. and its affiliates (collectively “Shamrock”) filed Civil Action No. 10,075 on July 20, 1988 alleging that: (1) Polaroid’s directors breached their fiduciary duties in adopting the Polaroid Stock…
2Cases cited15 opinions
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Aronson v. LewisSupreme Court of Delaware · 1984
- Weinberger v. UOP, Inc.Supreme Court of Delaware · 1983
- Smith v. Van GorkomSupreme Court of Delaware · 1985
- Unocal Corp. v. Mesa Petroleum Co.Supreme Court of Delaware · 1985
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3Cited by26 opinions
- Cede & Co. v. Technicolor, Inc.Supreme Court of Delaware · 1994
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- Unitrin, Inc. v. American General Corp.Supreme Court of Delaware · 1995
- Cinerama, Inc. v. Technicolor, Inc.Supreme Court of Delaware · 1995
- In Re Tri-Star Pictures, Inc., LitigationSupreme Court of Delaware · 1993
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