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CCSB FINANCIAL CORP. v. TOTTA

No. 424, 2022.

302 A.3d 387 (2023)

CCSB FINANCIAL CORP., Defendant Below, Appellant, v. Deann M. TOTTA, Laurie Morrissey, Chase Watson, and Park G.P., Inc., Plaintiffs Below, Appellees.

Supreme Court of Delaware.

Decided: July 19, 2023.

Attorney(s) appearing for the Case

Kevin J. Connors, Esquire , Aaron E. Moore, Esquire , MARSHALL DENNEHEY WARNER COLEMAN & GOGGIN, Wilmington Delaware; Michael H. McGinley, Esquire (argued), Rick S. Horvath, Esquire , Stuart T. Steinberg, Esquire , DECHERT LLP, Philadelphia, Pennsylvania; Brett A. Scher, Esquire , Patrick M. Kennell, Esquire , KAUFMAN DOLOWICH & VOLUCK, LLP, New York, New York, for Defendant Below, Appellant CCSB Financial Corp.

Kevin H. Davenport, Esquire , Eric J. Juray, Esquire , John G. Day, Esquire (argued), PRICKETT, JONES & ELLIOTT, P.A., Wilmington, Delaware, for Plaintiffs Below, Appellees DeAnn M. Totta, Laurie Morrissey, Chase Watson, and Park G.P., Inc.

Before SEITZ, Chief Justice; VALIHURA and TRAYNOR, Justices.

The corporate charter of a bank holding company capped at 10% the stock that could be voted by a "person" in any stockholder vote. During a proxy contest for three seats of a staggered board, the CCSB board of directors instructed the inspector of elections not to count 37,175 shares voted in favor of a dissident slate of directors...

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