In the case of Katz v. Bregman (431 A.2d 1274 (Del.Ch.1981)) a corporation attempted to sell assets that constituted more than 51% of the corporations total assets and generated about 45% of the net sales. When the directors did not hold a shareholder vote to approve the sale, the shareholders who were opposed to the sale sued to stop the sale. The Court found that Delaware law (8 Del.C. §271(a)) requires majority shareholder approval for the sale of "all or substantially all" of the assets of a Delaware corporation. The Court found that based on §271(a), an asset sale of this magnitude required a shareholder vote. Compare this case with Gimbel v. Signal Companies, Inc. (316 A.2d 599 (Del.Ch. 1974)), which found that a shareholder vote was not required when the corporation was attempting to sell slightly less assets.