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Corporations Keyed to Hazen
Advanced Min. Systems, Inc. v. Fricke
Citation:623 A.2d 82 (Del.Ch.1992)
Richard Fricke was General Manager of one of the Republic plants that was to be spun-off in the creation of AMS. Fricke apparently was one of the promoters of the LBO. He was one of the principal shareholders of AMS. After leaving AMS’s management, Mr. Fricke continued to work for the corporation as a consultant for another year. Since March 1987, his sole connection with AMS apparently has been as a shareholder. On November 16, 1990, AMS filed the present suit against Fricke, alleging that, while he was President of the company and a director, Fricke had violated fiduciary duties he owed to the company.
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