Harriman v. E. I. Du Pont De Nemours & Co.

MURRAY M. SCHWARTZ, District Judge.

The instant case involves a challenge by several shareholders of E. I. Du Pont de Nemours and Company (“Du Pont”) to a contemplated merger between Du Pont and Christiana Securities Company (“Christiana”), a closed-end non-diversified management investment company registered under the Investment Company Act of 1940. 15 U.S.C. § 80a-l et seq. The plaintiffs, suing derivatively on Du Pont’s behalf seek, on three grounds, to enjoin the merger. They argue that the proposed merger will, when consummated, violate Delaware law because it is unfair to public…