Nature of the Case
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Facts
The directors of Chris-Craft Industries, Inc. (D) attempted to move the meeting previously set by the by-laws for January 11, 1972, to December 8, 1971. The court held that the directors of D took advantage of a new section of Delaware corporate law to cut the amount of time available to wage a proxy battle. The directors changed the date of the stockholder meeting by amending bylaws two days after the stockholder committee had filed an intention to wage a proxy fight with the S.E.C. The dissenting stockholders (Ps) instituted an action.
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