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Corporations Keyed to Hazen
Schnell v. Chris-Craft Industries, Inc.
Citation:285 A.2d 437 (Del. 1971)
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- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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- Brief Facts: A Synopsis of the Facts of the case.
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
Plaintiffs, who are stockholders of the defendant, seek a injunction against the carrying out by such corporation of a change in the date of its annual meeting of stockholders which was accomplished by an amendment to its bylaws adopted at a directors’ meeting held on October 18, 1971. Plaintiffs and other dissident stockholders are dissatisfied with defendant’s recent business performance. Thus, they have embarked on a proxy contest against present management with the purpose in mind of electing new directors and installing new management at Chris-Craft. Plaintiffs pray for the entry of a injunction enjoining the convening of the annual meeting of stockholders of Chris-Craft as now scheduled for December 8, 1971 on the ground that the change in defendant’s bylaws made on October 18, 1971 was improperly accomplished and constitutes a manipulation of corporate machinery solely to insure that present management may be perpetuated in office to Chris-Craft’s detriment.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
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