Rosenblatt v. Getty Oil Co.

MOORE, Justice:

In this class action brought on behalf of the minority stockholders of Skelly Oil Company (Skelly) we review a Court of Chancery decision holding that the 1977 stock-for-stock merger of Skelly and Mission Corporation (Mission) into Getty Oil Company (Getty) was entirely fair to the plaintiffs.

For the first time since Weinberger v. UOP, Inc., Del.Supr., 457 A.2d 701 (1983), we address certain principles upon which the parties’ basic disputes are centered. These include the allocation of the burden of proof on the fairness issue, the continued viability of the Delaware Block…