Nadler v. Bethlehem Steel Corp.

Marvel, Vice Chancellor:

The complaint1 in this case, as amended on September 27, 1957, charged the individual defendants with breaches of fiduciary duty as directors and officers of the corporate defendant or of its subsidiaries in allegedly causing excessive corporate salaries and other forms of compensation to be paid to themselves and other employees of Bethlehem during the years 1954 through 1956. While plaintiffs’ attack is directed agains a number of compensatory devices, including pension and stock option plans, used to compensate Bethlehem’s executives, plaintiffs’ primary complaint…