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longer were interested or actively involved in managing those
assets and wanted their children to become actively involved in
the management of those assets.
During the 1980s, Stone Manufacturing, which employed about
4,000 people, acquired from Umbro, an internationally known
manufacturer and distributor of soccer apparel, the right to
distribute Umbro’s products within the United States. In late
1991, Stone Manufacturing began discussions regarding the possi-
bility of acquiring from Umbro the right to distribute Umbro’s
products internationally. On April 28, 1992, Stone Manufacturing
and the owners of Umbro signed a purchase agreement under which
Stone Manufacturing agreed to acquire the right to distribute
Umbro’s products internationally.
On April 28, 1992, Ms. Morris, Ms. Fraser, and their respec-
tive children filed a petition (petition) in a Probate Court in
South Carolina (Probate Court) against Eugene Earle Stone, IV, C.
Rivers Stone, and Mr. Brausch, as trustees of the trusts, and
against the children of C. Rivers Stone, as beneficiaries of one
of the trusts. (We shall refer to that litigation as the litiga-
tion among the children and to all the parties in that litigation
as the parties in the litigation among the children.) Eugene
Earle Stone, IV, discussed the litigation among the children with
his parents, but neither Ms. Stone nor Mr. Stone was or became a
party in that litigation.
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