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MARINER LDC v. STONE CONTAINER CORP.

No. 16724-NC.

729 A.2d 267 (1998)

MARINER LDC and Caspian Capital Partners, L.P., Plaintiffs, v. STONE CONTAINER CORPORATION, Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: November 13, 1998.

Revised Decision: November 17, 1998.

Attorney(s) appearing for the Case

Michael Hanrahan, Stephanie M. Tarabicos, of Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, for Plaintiffs.

Kenneth J. Nachbar, Alan J. Stone, Christopher F. Carlton, of Morris, Nichols, Arsht & Tunnell, Wilmington; of counsel: Richard B. Kapnick, Nancy A. Temple, of Sidley & Austin, Chicago, Illinois, for Defendant.

OPINION

LAMB, Vice Chancellor.

I. INTRODUCTION

Plaintiffs Mariner LDC and Caspian Capital Partners, L.P. (collectively, "plaintiffs"), holders of Series E Cumulative Convertible Exchangeable Preferred Stock ("Series E Preferred Stock") of defendant Stone Container Corporation ("Stone"), filed this action seeking injunctive relief for certain alleged violations of their rights under Stone's Restated Certificate of Incorporation ("Certificate"),...

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