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IN RE PSE & G SHAREHOLDER LIT.

718 A.2d 254 (1998)

315 N.J. Super. 323

In re PSE & G SHAREHOLDER LITIGATION. This Opinion Relates to Stricklin (C-160-96) and Greenberg (C-188-96) Plaintiffs.

Superior Court of New Jersey, Chancery Division, Essex County.

Decided April 30, 1998.

Attorney(s) appearing for the Case

Mark C. Rifkin and Donald Alexander, Ardmore, PA, for plaintiff Gloria E. Stricklin (Greenfield & Rifkin, attorneys).

Peter S. Pearlman (Cohn, Lifland, Pearlman, Herrmann & Knopf, attorneys), Saddle Brook, Stephen I. Whinston, (Berger & Montague, attorneys), Philadelphia, PA, for plaintiff Dr. Steven Fink and David Friedman Profit Sharing Plan and plaintiff Datz Pension and Profit Sharing Plan.

Harold G. Levison, New York City, for Director Defendants (Kasowitz, Benson, Torres & Friedman, attorneys).

Michael R. Griffinger, Newark, for Officer Defendants (Gibbons, Del Deo, Dolan, Griffinger & Vecchione, attorneys).

Kevin R. Gardner, Roseland, for Defendant Public Service Electric & Gas Company and Public Service Enterprise Group Incorporated (Connell, Foley & Geiser, attorneys).

WEISS, A.J.S.C.

At the January 23, 1998 status conference in the above referenced matter, the court advised counsel that it would consider the scope of discovery which plaintiffs are entitled to in order to respond to defendants' summary judgment motion filed December 30, 1997. The issue that arises from defendants' motion is the application of the business judgment rule to the directors' March 19, 1996 decision to reject...

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