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Nixon v. Blackwell
Citation:626 A.2d 1366 (Del. 1993)
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Following the death of E.C. Barton, all his Class-A voting stock was passed to the corporation‘s employees, while Class-B non-voting stock passed to his family. The corporation offered to repurchase Class-B stock through self-tender offers. Class-A stock included several perks, including life insurance policies and the right to convert Class-A stock into Class-B should they leave the corporation. A group of Class-B stockholders filed suit.
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