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1
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ORDER APPROVING SETTLEMENT
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EXTRACTED KEY WORDS
COURT SEAMAN FURNITURE DEFENDANT INVESTMENTS SASS RESURGENCE PARTIES STOCKHOLDERS DELAWARE HOWE PRICE RECOVERY BEHALTF RUHIN RESURGENCE ASSET MANAGEMENT SASS CORPORATE RESURGENCE ROBERT BYRON HANEY ALAN ROSENBERG HALPER PETER KGEOUGH SEANAN FURNITURE SEAMAN FURNITURE COMPANY THA PURSUANT BOND RELATED THERETO PLAINTIFFS EFFECT PENDING INNTRY ORDER DISMISSING PREJUDICE |
AUG-IO-00 THU 'i2:O-f PM FAX NO. P. 02
S:N THE COURT OF CHANCERY OF THE STATE OF DELAWARE
3:N AND FOR NEW CASTLE COUNTY
T. HOWE PRICE RECOVERY E'LJND, L.P., )
CARL EIARKS MANAGEMENT CO,, L.P., )
CARL MARKS STRATEGIC INVESTMENTS, )
L.P. and CARL MARKS STRATEGIC )
INVESTMENTS II , L.Y., individually )
and derivatively on behaltf of
SEAMAN FURNITURE CO., INC.,
Plaintiffs, i C.A. No. 18013
v. )1
J.4MES RUHIN, M.D. SASS ASSOCIATES, )
INC., RESURGENCE ASSET MANAGEMENT,
L.L.C., ll.D. SASS CORPORATE 1
RESURGENCE PARTNERS, L.P., M.D. 1
SASS CORPORATE RESURGENCE
INTERNATIONAL, LTD., ROBERT
SYMXNGTO'N, BYRON HANEY, ALAN
ROSENBERG, STEVEN 8. HALPER, and
PETER KGEOUGH,
Defendants,
and
SEANAN FURNITURE CO., INC.,
Nominal Defendant. ,
ORDE'R AI'PROVING SETTLEMENT
&ND STAYING FURTHER PROCEEDINGS
WHEREAS, the parties to the above-captioned individual
and derivative action and all other stockholders of nominal
defendant Seaman Furniture Company, Inc. have entered into a
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2
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MEMORANDUM OPINION
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EXTRACTED KEY WORDS
MANAGEMENT PLAINTIFFS DEFENDANTS RUBIN RESURGENCE AGREEMENTS LEVITZ COURT ROSENBERG INVESTMENT MCGEOUGH PRICE ESQUIRE TRANSACTION DELAWARE CARL MARKS SASS CORPORATE RESURGENCE SEAMAN FURNITURE DIRECTORS SPECIAL COMMITTEE RESURGENCE ASSET MANAGEMENT SYMINGTON ALEX BROWN PROPOSALS PRICE RECOVERY FUND RESURGENCE PARTNERS BYRON HANEY ATTORNEYS INJUNCTION |
,,
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
T. ROWE PRICE RECOVERY FUND, L.P.,
CARL MARKS MANAGEMENT CO., L.P.,
CARL MARKS STRATEGIC INVESTMENTS,
L.P. and CARL MARKS STRATEGIC
INVESTMENTS II, L.P., individually and
derivatively on behalf of SEAMAN FURNITURE
CO., INC.,
Plaintiffs,
V. CA. No. 18013
JAMES RUBIN, M.D. SASS ASSOCIATES,
INC., RESURGENCE ASSET MANAGEMENT,
L.L.C., M.D. SASS CORPORATE
RESURGENCE PARTNERS, L.P., M.D.
SASS CORPORATE RESURGENCE
INTERNATIONAL, LTD., ROBERT
SYMINGTON, BYRON HANEY, ALAN
ROSENBERG, STEVEN H. HALPER, and
PETER MCGEOUGH,
Defendants,
and
SEAMAN FURNITURE CO., INC.,
Nominal Defendant.
MEMORANDUM OPINION
Submitted: June 19,200O
Decided: June 23,200O
Martin P. Tully, Esquire and David John Teklits, Esquire, of MORRIS,
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3
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VERIFIED AMENDED COMPLAINT
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EXTRACTED KEY WORDS
SASS RUBIN LEVITZ TRANSACTION PLAINTIFFS MANAGEMENT COMMON STOCK DEFENDANTS INVESTMENT MAJORITY SHAREHOLDERS ASSET MANAGEMENT FIDUCIARY DUTIES RESURGENCE ASSET MANAGEMENT SHARES MANAGER DEFENDANTS NOMINAL DEFENDANT SEAMAN FURNITURE COMPANY SASS CORPORATE RESURGENCE DIRECTORS ROSENBERG AFFILIATES CASH FLOW ROWE PRICE FUND JAMES RUBIN MAJORITY STOCKHOLDER MANAGEMENT RESPONSIBILITIES TO-BE-FORMED DIVISION |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE '1
IN AND FOR NEW CASTLE COUN1'Y 4ff' -
T. ROWE PRICE RECOVEF:Y FUND, L.P., )
CARL MARKS MANAGEMENT CC)., L.P., )
CARL MARKS STRATEGIC INVE:STMENTS, )
L.l?. and CARL MARKS STRATEGIC )
INVESTMENTS II, L.P., individually )
and derivatively on behalf of )
SEAMAN FURNITURE CO., IblC., ))
Plaintiffs, )) C.A. qo. 18013
V . )1
JAMES RUBIN, M.D. SASS ASSOCIATES, 1
INC., RESURGENCE ASSET MANAGEMENT, )
L.:L.C., M.D. SASS CORPOFATE 1
RESURGENCE PARTNERS, L.E'., M.D. 1
SASS CORPORATE RESURGENCE; 1
INTERNATIONAL, LTD., ROEiEIRT 1
SYMINGTON, BYRON HANEY, ALAN 1
ROSENBERG, STEVEN H. HALPER, and 1
PETER MCGEOUGH, 11
Defendants, 11
and 11
SEAMAN FURNITURE CO., INC., 1
Nominal Defendant.
V:ERIl":CED AMENDED COMPLAIN'I!
Plaintiffs T. Rowe Price Recover:{ Fund, L-P., Carl
Marks Management Co.., G.P., Carl Marks Strategic Investments,
L.P. and Carl Marks Strategic Investments II, L-P., by their
undersigned attorneys, allege for their complaint against
defendants as follows:
NjtJJJRE OF THE ACTION
1. Plaintiffs, the holders of ai?proximately 42% of
the fully diluted common stock of Seaman Furniture Company, Inc.
( "!Seaman" or the "Company"), bring this action individually and
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4
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ANSWERING BRIEF OF DEFENDANTS A. ROSENBERG S. HALPER AND P. MCGEOUGH IN OPPOSITION TO PLAINTIFFS MOTION FOR A PRELIMINARY INJUNCTION
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EXTRACTED KEY WORDS
PLAINTIFFS EXECUTIVE MANAGEMENT ROSENBERG SHARES SHAREHOLDERS COURT RESURGENCE PRICE MCGEOUGH HALPER FIDUCIARY DUTIES DELAWARE RUBIN STOCK DEFENDANTS AGREEMENT PRELIMINARY INJUNCTION CONTROL PREMIUM FURNITURE ALAN ROSENBERG PETER MCGEOUGH OPPOSITION TRANSACTION CARL MARKS MANAGEMENT AMERICAN RESOURCES COMPLAINT GOLDEN DEP ROSENBERG AFF REASONABLE PROBABILITY |
1X THE COURT OF CHANCERY OF THE STATE OF DELAWARE
I-N AND FOR NEW CASTLE COUNTY
T ROWE PRICE RECOVERY FUND, L.P ,
and CARL MARKS MANAGEMENT CO., L.P
derivatively and on behalf of SEAMAN
FURNITURE CO., INC ,
PlaintilTs,
v C.A No. 18013
JAMES RUBIN, M D. SASS ASSOCIATES,
INC., RESURGENCE ASSET MANAGEMENT, CONFIDENTLAL -
L.L.C , M D. SASS CORPORATE FILED UNDER SEAL
RESURGENCE INTERNATIONAL, LTD.,
ROBERT SYMINGTON, BYRON HANEY,
ALAN ROSENBERG, STEVEN H HALPER,
and PETER McGEOUGH,
Defendants,
and
SEAMAN FURNITURE CO' , I-NC.,
Nominal Defendant
ANSWERING BRLEF OF DEFENDANTS ALAN ROSENBERG,
STEVIEN H. HALPER, AND PETER MCGEOUGH IN OPPOSITION TO
~,AINTIFFS'~IOTION FOR A PRELIMINARY YNJUNCTION
YOIJNG CONAWAY STARGATT g: TAYLOII LLP
David C. McBride
William D. Johnston
OF COUNSEL Christian Douglas Wright
l?eter' 1,. AJtieri John J. Paschetto
1Stefanie Gatti Eleventh Floor, Wilmington Trust Center
David J. Clark 1100 North Market Street
EPSTEIN 13ECKER & GKEEEJ, PC Wilmington, DE I980 1
250 Park .4venue (302) 57 l-6679
Uew York, NY 10177 Attorneys for Defendants Alan Rosenberg, Steven
(2 12) 35 l-11592 Halper and Peter McGeouph
DATED. June 13, 2000
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5
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VERIFIED COMPLAINT
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EXTRACTED KEY WORDS
SASS LEVITZ RUBIN TRANSACTION DEFENDANTS PLAINTIFFS MANAGEMENT COMMON STOCK MAJORITY ROSENBERG AFFILIATES HALPER SHAREHOLDERS RESURGENCE ASSET MANAGEMENT PETER MCGEOUGH FIDUCIARY DUTIES ROWE PRICE RECOVERY INVESTMENT PRICE RECOVERY FUND SASS CORPORATE RESURGENCE SEAMAN FURNITURE COMPANY MANAGER DEFENDANTS NOMINAL DEFENDANT SERVICES AGREEMENT OPERATING DIRECTORS VERIFIED COMPLAINT MARKS MANAGEMENT MAJORITY STOCKHOLDER |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
T. ROWE PRICE RECOVERY FUND, L.P. )
and CARL MARKS MANAGEMENT CO., )
L.P., individually and
derivatively on behalf of SEAMAN 1
FURNITURE CO., INC., )1
Plaintiffs, )1
V. )1
JAMES RUBIN, M.D. SASS ASSOCIATES, )
INC., RESURGENCE ASSET MANAGEMENT, )
L.L.C., M.D. SASS CORPORATE )
RESURGENCE PARTNERS, L.P., M.D. )
SASS CORPORATE RESURGENCE
INTERNATIONAL, LTD., ROBERT 1
SYMINGTON, BYRON HANEY, ALAN )
ROSENBERG, STEVEN H. HALPER, and )
PETER MCGEOUGH,
I
Defendants,
1
and )1
SEAMAN FURNITURE CO., INC., .
i : .
Nominal Defendant. )
VERIFIED COMPLAINT
Plaintiffs T. Rowe Price Recovery Fund, L.P. and Carl
Marks Management Co., L.P., by their undersigned attorneys,
allege for their complaint against defendants as follows:
NATURE OF THE ACTION
1. Plaintiffs, the holders of approximately 42% of
the fully diluted common stock of Seaman Furniture Company, Inc.
("Seaman" or the "Company"), bring this action individually and
derivatively on behalf of Seaman to enjoin the proposed
management agreement and shared services agreement (the
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