(Download) "Resorts International Shareholders" by Supreme Court of Delaware * Book PDF Kindle ePub Free
eBook details
- Title: Resorts International Shareholders
- Author : Supreme Court of Delaware
- Release Date : January 26, 1990
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 70 KB
Description
Henry R. Horsey, Justice: Two Class A and four Class B stockholders ("the objectors") of Resorts International, Inc. ("Resorts"), a Delaware corporation,
contest an "Amended Settlement" of numerous consolidated class actions and derivative lawsuits filed by both Class A and Class
B shareholders of Resorts. The shareholder suits encompass two separate takeover transactions. The first transaction involves
Donald Trump's purchase of a controlling interest in Resorts, followed by his unsuccessful attempt to take Resorts private.
These events generated fourteen shareholder suits which culminated in a proposed "Original Settlement." A hearing on the proposed
settlement of claims relating to the first transaction was mooted in March 1988 by Merv Griffin's later successful bid to
acquire Resorts through a buy-out of Trump's interests and a cash tender offer for the remaining publicly owned shares, the
second transaction. The Original Settlement was then withdrawn. Claims relating to both transactions were later resolved under
a proposed Amended Settlement, subject to the required notice and court approval under Rules 23 and 23.1. At all relevant
times, Resorts was a deeply indebted owner of a partially constructed hotel casino complex in Atlantic City, New Jersey, known
as "the Taj Mahal."