Legal Opinion
Kaplan v. Fenton
Supreme Court of Delaware
Decided June 2, 1971PublishedCited by 10 opinions
1Opinion of the Court
WOLCOTT, Chief Justice:
This is an appeal from an order of the Court of Chancery dismissing the complaint in a stockholders’ derivative action. The action was brought on behalf of Christiana Oil Company against the directors of Christiana and individuals who formerly owned Class B stock of Huntington Harbor Corporation.
Huntington owned a tract of low undeveloped land near Los Angeles, California. It had outstanding 40,000 shares of Class A and 10,000 shares of Class B stock. In 1960 Christiana acquired all of the Huntington Class A stock in consideration of 350,000 shares of Christiana.
Christia…
2Cases cited4 opinions
- Guth v. Loft, Inc.Supreme Court of Delaware · 1939
- Johnston v. GreeneSupreme Court of Delaware · 1956
- Equity Corporation v. MiltonSupreme Court of Delaware · 1966
- Equity Corp. v. MiltonCourt of Chancery of Delaware · 1965
3Cited by10 opinions
- Singer v. Magnavox Co.Supreme Court of Delaware · 1977
- Cal-Maine Foods, Inc. v. CommissionerUnited States Tax Court · 1989
- Broz v. Cellular Information Systems, Inc.Supreme Court of Delaware · 1996
- Science Accessories Corp. v. Summagraphics Corp.Supreme Court of Delaware · 1980
- RAPISTAN CORPORATION v. MichaelsMichigan Court of Appeals · 1994
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