This section contains the nature of the case and procedural background.

Officials at Gulf were found to have made illegal campaign contributions to the presidential candidacy of Richard Nixon and two candidates for Congress. A derivative suit was filed by plaintiffs asking for repayment of those illegal contributions. The plaintiffs sought $18 million for damages, but the parties decided to settle the case and asked the district court for approval. The amount of the settlement was $3.5 million, and the district court approved the settlement. Based on the complexity of the case, Gulf agreed to pay the litigation expenses of the plaintiffs. That decision and the approval of the settlement are challenged here. The vast majority of shareholders approved the settlement.

The legal issues presented in this case will be displayed here.

The court's holding and decision will be displayed here.

Legal analysis from Dean's Law Dictionary will be displayed here.