Giammalvo v. Sunshine Mining Co.

HOLLAND, Justice:

The plaintiff-appellant, Salvatore J. Giam-malvo (“Giammalvo”), brought this action against Sunshine Mining Company and certain of its directors (collectively “Sunshine Mining”). Giammalvo challenged, inter alia, Sunshine Mining’s failure to redeem Cumulative Redeemable Preferred Stock (the “Preferred Stock”). The Court of Chancery held that Sunshine Mining had not breached its contractual obligations to the holders of the Preferred Stock.

The Court of Chancery also certified this matter as a class action, pursuant to Court of Chancery Rule 23(b)(2). Giammalvo was certified as…