For Your Data Merritt-Chapman & Scott Corp. V. Wolfson Example Brief
March 16, 2016
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Merritt-Chapman & Scott Corp. v. Wolfson case brief summary
321 A.2d 138 (1974)
CASE FACTS
The claimants were charged yesteryear indictment amongst participation inwards a conception to crusade plaintiff to secretly buy hundreds of thousands of shares of its ain mutual stock. Count i charged all claimants amongst conspiracy to violate federal securities laws, which was dropped every moment to all claimants. Counts ii too 3 charged ii claimants amongst perjury too counts 4 too v charged all amongst filing fake annual reports. Counts 4 too v were dropped every moment to ii claimants. One of the remaining claimants entered a plea of nolo contendere too the other agreed to non appeal his conviction. The parties sought indemnification from the corporation.
DISCUSSION
CONCLUSION
The courtroom flora inwards favor of the claimants too held that they were entitled to indemnification of the expenses incurred on the criminal charges that were dropped; the courtroom did non let for indemnification of expenses for ii claimants who were convicted of perjury too filing fake annual reports.
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321 A.2d 138 (1974)
CASE SYNOPSIS
Defendant claimants sought indemnification from plaintiff company pursuant to Del. Code Ann. tit. 8, § 145 against expenses incurred inwards a criminal activeness when defendants were charged yesteryear indictment amongst participation inwards a conception to crusade plaintiff to secretly buy shares of its ain mutual stock.CASE FACTS
The claimants were charged yesteryear indictment amongst participation inwards a conception to crusade plaintiff to secretly buy hundreds of thousands of shares of its ain mutual stock. Count i charged all claimants amongst conspiracy to violate federal securities laws, which was dropped every moment to all claimants. Counts ii too 3 charged ii claimants amongst perjury too counts 4 too v charged all amongst filing fake annual reports. Counts 4 too v were dropped every moment to ii claimants. One of the remaining claimants entered a plea of nolo contendere too the other agreed to non appeal his conviction. The parties sought indemnification from the corporation.
DISCUSSION
- The courtroom flora that, every moment to the expenses incurred inwards the charges that were dropped, all claimants were entitled to indemnification.
- However, the courtroom held that the ii claimants who were convicted on the perjury too filing fake annual reports claims were non entitled to indemnification.
CONCLUSION
The courtroom flora inwards favor of the claimants too held that they were entitled to indemnification of the expenses incurred on the criminal charges that were dropped; the courtroom did non let for indemnification of expenses for ii claimants who were convicted of perjury too filing fake annual reports.
Recommended Supplements for Corporations too Business Associations Law