Court of Chancery of Delaware May 11, 2004, C.A. 18993-NC (Alessi v. Beracha)

OPINION

CHANDLER, Chancellor.

Plaintiff, Margaret Alessi, was a small investor in The Earthgrains Company.

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She owned less than 100 shares. On May 18, 2001, Earthgrains issued a press release announcing a program that would allow its shareholders holding less than 100 shares to sell or buy shares at the current market value (around $25) for a below normal brokerage fee.