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1
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LETTER OPINION
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EXTRACTED KEY WORDS
CARVER VOTE SHARES COURT FEES CHANCELLOR CARVER BANCORP FACTS MEETING DEL FAITH ATTORNEYS AFFIDAVIT LITIGATION BAD-FAITH EXCEPTION PARTY PROXY SUPPORT ELECTION BENEFICIAL OWNER STOCKHOLDER REPRESENTATIVES DESPITE INTERVENE CHRISTIAN OPPOSE AWARD PLAINTIFFS CITY |
C OURT OF C HANCERY j -,
OF THE
STATE OF D ELAWARE
MYRON T . S T EE L E
"!CE CHANCELLOR
Andre G. Bouchard
Joel E. Friedlander
Bouchard, Margules & Friedlander
222 Delaware Avenue, Suite 1102
Wilmington, DE 19801
Joseph C. Schoell
Morris, James, Hitchens & Williams
P.O. Box 2306
Wilmington, DE 19899
Re: In Re Carver Bancorp, Inc.
c.Af. No. 17743-NC
Submitted: May 26, 2000
Decided: August 28,200O
Dear Counsel:
BBC Capital Market, Inc. has asked me to order Blaylock & Partners,
L.P. to pay attorneys' fees incurred by BBC Capital in opposing Blaylock's
application to count its shares in the recent Carver Bancorp, I[nc.`s election
of directors. Because: the facts on record do not support application of the
bad-faith exception to' the American Rule that each party pay its own fees, I
deny BBC Capital's request.
Carver held its annual stockholders meeting on February 24, 2000.
Two director positions were to be filled in a hotly contested election with
In Re Carver Bancorp, Inc. (17743-NC)
SNIPPETS:
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2
.
REPLY BRIEF IN SUPPORT OF MOTION FOR SUMMARY JUDGMENT
|
EXTRACTED KEY WORDS
DEL COURT PROXY CHRISTIAN FACTS STOCKHOLDER DELAWARE DISCOVERY ANNUAL MEETING SHARES VOTE RELIEF ALLISON PRESTON AFFIDAVIT ELECTION STANDING CHANCERY SHAPIRO FORMAN TRUE FACTS PROXY STATEMENT DIRECTORS INSPECTOR JUDGEMENT ATTORNEYS ALLEN LLP MATERIALLY FALSE LITIGATION DEPOSITION |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
___-________-_____-----~----------------------X
IN RE CARVER RANCORP, INC. : Cons. C.A. No. 17743
___________-______-----~---------------------- X
REPLY BRIEF IN SUPPORT OF MOTION FOR SUMMARY
JUDGMENT TO DISMISS THE APPLICATION OF
BLAYLOCK & PARTNERS. L.P. AND AWARD ATTORNEYS' FEES
Andre G. Bouchard
Joel Friedlander
BOUCHARD MARGULES & FRIEDLANDER
222 Delaware Avenue, Suite 1102
Wilmington, DE 19801
(302) 573-3.500
Attorneys for Plaintiff BBC Capital Market, Inc.
OF COUNSEL:
Stuart L. Shapiro
SHAPIRO FORMAN & ALLEN LLP
380 Madison Avenue
New York, NY 10017
(212) 972-4900
DATED: May 17, 2000
TABLE OF CONTENTS
ARGUMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
I. NATHANIEL CHRISTIAN'S AFFIDAVIT IS
INDISPUTABLY MATERIALLY FALSE . . . , . . . . . . . . . . . . . . . . . 1
II. BLAYLOCK ENGAGED IN BAD-FAITH
SNIPPETS:
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3
.
BLAYLOCKS MEMORANDUM IN OPPOSITION TO BBCS MOTION FOR SUMMARY JUDGMENT
|
EXTRACTED KEY WORDS
SHARES STOCKHOLDERS ANNUAL MEETING VOTE BBC ELECTION CARVER CHRISTIAN DEP COURT PROXY DELAWARE INSPECTOR POLLS MATERIALS COMMON STOCK PROCEEDING SUMMARY JUDGMENT DIRECTORS ATTORNEYS BENEFICIAL OWNER CARVER BANCORP PROXY CARD DEPOSITION ADP PROXY SOLICITOR DELAWARE GENERAL CORPORATIONS OUTSTANDING SHARES INSTRUCTIONS PROXY STATEMENT |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
In re CARVER
1 C BmC()RP,
i v INC.
i l A c t i o n
BLAYLOCK'S MEMORANDUM IN OPPOSITION TO 1
BBC'S MOTION FOR SUMMARY JUDGMENT : /
Blaylock & Partners, L.P. ("Blaylock") submits this memorandum in opposition
to the motion of BBC Capital Market, Inc. ("BBC") for summary judgment dated May 2,200O.
As demonstrated below, numerous contested issues of material fact preclude judgment before
trial and 13BC's request for attorneys' fees has no support in the record
PRELIMINARY STATEMENT
This proceeding concerns the attempt of Blaylock - as the beneficial owner of
4.3% of the outstanding shares of common stock of Carver Bancorp, Inc. ("Carver") - to vote its
shares at Carver's annual meeting of stockholders for the fiscal year ended March 3 1, 1999,
which wa.s held on February 24, 2000 (the "Annual Meeting")
The primary item to be submitted for stockholder consideration at the Annual
Meeting was the election of two directors to Carver's S-member Board of Directors. The
election was hotly contested. Carver nominated for re-election the two directors whose terms
would expire at the Annual Meeting and a holder of 7.4% of the outstanding common stock of
Carver - BBC Capital Market, Inc. ("BBC") - nominated two individuals who, collectively,
were majority shareholders of its parent company.
Blaylock, which had not made up its mind as to which of the director nominees to
vote for, attended the Annual Meeting in order to listen to the parties' respective positions
SNIPPETS:
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4
.
SUPPLEMENTAL BRIEF IN SUPPORT OF MOTION FOR SUMMARY JUDGMENT
|
EXTRACTED KEY WORDS
VOTE ANNUAL MEETING SHARES BLAY PROXY CARD BLAYLOCK CHRISTIAN INSTRUCTIONS BROKER PROXY STATEMENT STOCKHOLDER PROXY MATERIALS CARVER DOCUMENTATION VOTING COUNSEL SHAPIRO RECEIVING EXHIBIT YORK AFFIDAVIT HERETO BANK WHITE PROXY HEADING PARAGRAPH DELIVERY SHAREHOLDER STEARNS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
____________________-------------------------- x
IN RE CARVER BANCORP, INC. : Cons. C.A. No. 17743
____________________-------------------------- X
SUPPLEMENTAL BRIEF IN SUPPORT OF MOTION FOR
SUMMARY JUDGMENT TO DISMISS THE APPLICATION OF
BLAYLOCK & PARTNERS. L.P. AND AWARD ATTORNEYS' FEES
c
. 1
-
Andre G. Bouchard -_ cm 3
Joel Friedlander
BOUCHARD MARGULES & FRIEDLANDER
222 Delaware Avenue, Suite 1102
Wilmington, DE 19801
(302) 573-3500
Attorneys for Plaintiff BBC Capital Market, Inc.
OF COUNSEL:
Stuart L. Shapiro
SHAPIRO FORMAN & ALLEN LLP
380 Madison Avenue
New York, NY 10017
(212) 972-4900
DATED: May 8, 2000
TABLE OF CONTENTS
P R E L I M I N A R Y S T A T E M E N T . . . . . . . . . . . . . . . . . . . 1
SUPPLEMENT TO STATEMENT OF FACTS . . . . . . . . . . . .
C O N C L U S I O N . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SNIPPETS:
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5
.
LETTER
|
EXTRACTED KEY WORDS
PROVENDER TERRE11 COURT BREACH DEL INVESTMENT STEELE CARVER DISMISS DEFENDANT FIDUCIARY DUTY STOCK CHANCERY PURSUANT AIDING ABETTING PROV HONORABLE MYRON KNOWING PARTICIPATION REASONS VOTE PERSONAL JURISDICTION YOUNG CONAWAY TAYLOR LLP MORGAN STANLEY OPPOSING PLAINTIFFS MOTION DIRECTORS CHANCERY RULE |
YOUNG CONAWAY STARGATT & TAYLOR, LLP
ELEVENTH FLOOR
WILMINGTON TRUST CENTER
1100 NORTH MARKET STREET
WILMINGTON, DELAWARE 19801
P.O. Box 391
WILMINGTON, DELAWARE 198994391
(302) 571-6600
(800) 2532234 (DE ONLY)
FAX: (302) 571-12.53
WRITER'S DIRECT DUAL NUMBER
(302) 571-6624
E-MAIL: dessner@ycst.com
May 8,200O
BY Fax and First Class Mail
The Honorable Myron T. Steele
Vice Chancellor
Court of Chancery
4 17 South State Street
Dover, DE 19901
RE: In re Carver Bancorp, Inc.
Del Ch.. C.A. No. 17743
Dear Vice Chancellor Steele:
Not wishing to burden the Court with extensive briefing duplicative of the Carver
and Morgan Stanley pre-trial papers, and further duplicative of our February 12,200O answering
brief opposing plaintiffs motion for a preliminary injunction, defendants Provender Opportunities
Fund, L.P. ("Provender") and Frederick 0. Terre11 ("Mr. Terrell") submit this brief letter to the
Court pursuant to paragraph 6 of the Scheduling Stipulation and Order for the purpose of
emphasizing the following points.
Point 1: Plaintiffs Aiding and Abetting Claims Against Provender
Should Be Dismissed.
Plaintiffs sole claim against Provender is for "aiding and abetting." (Amended
Complaint Count III). As detailed in Provender's Answering Brief Opposing Plaintiffs Motion
for a Preliminary Injunction, dated February 12, 2000 ("Prov. AB"), which we incorporate herein
by reference, to succeed on a claim for aiding and abetting a plaintiff must prove:
SNIPPETS:
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6
.
MORGAN STANLEYS PRE-TRIAL BRIEF
|
EXTRACTED KEY WORDS
CARVER INVESTMENT BREACH FIDUCIARY DUTY DEL PLAINTIFF DIRECTORS SHARES NOMINEES INVEST COURT FIDUCIARY DUTIES TIMING NEGOTIATE BANK PREFERRED STOCK ANNUAL MEETING BUSINESS PLAN EVIDENCE PRELIMINARY STATEMENT MANAGEMENT TEAM EQUITY INVESTMENT RESCISSION CARRAGHER PRIMARY PURPOSE ABETTING CHANDLER CINERAMA TECHNICOLOR |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
_.
)
IN RE CARVER BANCORP, INC. ) Cons. C.A. No. 17743
)
MORGAN STANLEY & CO. INCORPORATED'S PRE-TRIAL BRIEF
MORRIS, NICHOLS, ARSHT & TUNNELL
A. Gilchrist Sparks, III
Jon E. Abramczyk
David J. Teklits
1201 N. Market Street
P.O. Box 1347
Wilmington, DE 19899-1347
(302) 658-9200
Attorneys for Defendant
Morgan Stanley & Co. Incorporated
May 8, 2000
1 .
TABLE OF CONTENTS
_Paqe
TABLE OF CITATIONS ii
PRELIMINARY STATEMENT
ARGUMENT 4
SNIPPETS:
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7
.
BBC CAPITAL MARKETS OPPOSITION TO CARVER DEFENDANTS MOTIONS TO STAY PROCEEDINGS PENDING APPEAL AND FOR ENTRY OF FINAL JUDGMENT ...
|
EXTRACTED KEY WORDS
APPEALS COURT SHARES JUDGEMENT MOTION PROXY DIRECTORS DELAWARE INTERLOCUTORY APPEALS BLAYLOCK CARVER NOMINEES DEL VOTING ELECTION VOTE PROXY CARD STOCKHOLDERS CORPORATION TRUST COMPANY MORGAN STANLEY BENEFICIAL OWNER IRREPARABLE INJURY INTERLOCUTORY REVIEW BBC CAPITAL MARKET CERTIFICATION PREVENTING KEVIN COHEE KEVIN COHEE TERI WILLIAMS INSPECTOR HSBC |
IN THE COURT OF CHANCERY OF THE STATE ~OF DELAWARE
--,I, ,-..:
r
r-3
IN AND FOR NEW CASTLE COUNTY . .* ;;,
-,
..' :
.
:,:
x
_______________-________________________------ ;
IN RE CARVER BANCORP, INC. : Cons. C.A~ No. 17743 F.
-_________-____-_-______________________------ .
X 1
PLAINTIFF BBC CAPITAL MARKET, INC.`S OPPOSITION T;E).: : ye1
CARVER DEFENDANTS' MOTIONS TO STAY PROCEEDINGS -
PENDING APPEAL AND FOR ENTRY OF FINAL JUDGMENT
OR CERTIFICATION OF INTERLOCUTORY APPEAL
Plaintiff BBC Capital Market, Inc. ("BBC Capital") hereby opposes the
motions filed by the Carver Defendants, who seek to (1) immediately appeal this
Court's Order of April 24, 2000 granting partial summary in favor of BBC Capital on
its Section 225 claim (the "Section 225 Order"); (2) stay the effectiveness of the
Section 225 Order by preventing Kevin Cohee and Teri Williams from being seated as
directors of Carver Bancorp, Inc. ("Carver") for the duration of the appeal; and (3)
I
stay all proceedings in this action, even though neither a successful appeal nor an
unsuccessful appeal would end this case.
All of the remaining issues in this consolidated action concern either the
voting of shares at Carver's annual meeting (i.e., the application of Blaylock &
Partners, L.P. ("Blaylock"), the voting of shares by Morgan Stanley & Co.
Incorporated ("Morgan Stanley") and Provender Opportunities Fund, L.P.
("Provender") and the candor of Carver's solicitation materials) or the rescission of the
shares issued to Morgan Stanley and Provender. The Carver Defendants' position, if
adopted, would inequitably prejudice BBC Capital and its nominees, result in piecemeal
I
SNIPPETS:
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8
.
MOTION TO STAY PROCEEDINGS
|
EXTRACTED KEY WORDS
APPEALING CARVER DEFENDANTS DELAWARE PENDING CHANCERY MOTION DISCOVERY BLAYLOCK SUPREME COURT GRANTING DISCOVERY RELATING DAVID BBC RESPECTFULLY REQUEST DEL LAW FAITH MERIT PENDING RESOLUTION HEREBY PURSUANT JUDGEMENT GRANT NOMINEES CARVER BOARD RESOLVES EXCEPTION REASONS PARTIES |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
TN AND FOR NEW CASTLE COUNTY
1
L:
IN RE CARVER BANCORP, JNC. Cons, CA. No. 17743 ' -
i
NOTICE OF MOTION
TO: Jon E. Abramczyk, Esquire Martin S. Lessner, Esquire
Morris Nichols Arsht & Tunnel1 Young Conaway Stargatt & Taylor
120 1 North Market Street Rodney Square North
P.O. Box 1347 Wilmington, DE 19899-0391
Wilmington, DE 19899-134'7
Andre G. Bouchard, Esquire Joseph C. Schoell, Esquire
Bouchard, Margules & Friedlander Morris James Hitchens & Williams
222 Delaware Avenue 222 Delaware Avenue
Suite 1102 Wilmington, DE 19801
Wilmington, DE 1980 1
PLEASE TARE NOTICE that the attached motion to stay pending appeal will be presented
to the Court at the convenience of the Court and counsel.
/9?zLdq/z &
Jesse A. Finkelstein
Michael D. Allen
Richards, Layton & Finger
One Rodney Square
P.O. Box 551
Wilmington, Delaware 19899
(302) 658-6541
Attorneys for Appellant
Dated: April 26, 2000
RLFl-21495X1-1 . I
SNIPPETS:
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9
.
PRE-TRIAL OPENING BRIEF OF BLAYLOCK & PARTNERS
|
EXTRACTED KEY WORDS
VOTE PROXY SHARES CHRISTIAN DELAWARE ELECTION POLLS ANNUAL MEETING COURT INSPECTOR CARVER STOCKHOLDERS DEL PARTNERS WILMINGTON YORK CHRISTIAN AFF PROXY SOLICITOR BLOOM DEP DOCUMENTATION WASHINGTON STATE LABOR PRE-TRIAL OPENING LLP DIRECTORS COMMON STOCK INSTRUCTIONS DELAWARE GENERAL CORPORATION BEAR STEARNS FEDERATED AMERICAN |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
Consolidated Civil Action :.-
IN RI3 CARVER BANCORP, INC. No. 17743
)
PRE-TRIAL OPENING BRIEF OF BLAYLOCK & PARTNERS. L.P.
MORRIS, JAMES, HITCHENS & WILLIAMS LLP
Joseph C. Schoell (I.D. No. 3133)
222 DeIaware Avenue
P. 0. Box 2306
Wilmington, Delaware 19899
(302) 888-6800
Attorneys for Applicant Blaylock & Partners, L.P.
OF COUNSEL
Dennis J. Block
Suzanne J. Romajas
Cadwalader, Wickersham & Taft
100 Maiden Lane
New York, New York 10038
(212) 504-6000
April 26, 2000
TABLE OF CONTENTS
PRELIMINARY STATEMENT 1
S T A T E M E N T O F F A C T S 2
ARGUMENT ,,,,._._.__.,..__..,....___..__.___,,..,,._..._______..__..... 9
SNIPPETS:
|
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10
.
CARVER DEFENDANTS MOTION FOR ENTRY OF FINAL JUDGMENT
|
EXTRACTED KEY WORDS
CARVER DEFENDANTS INTERLOCUTORY APPEALS COURT RULE JUDGEMENT PURSUANT SUPREME COURT DELAWARE MOTION CHANCERY COURT UNALLOCATED SHARES ENTRY PROXY CERTIFYING ESOP OPINION ORDER DIRECTING FHLB PROXY SUMMARY JUDGMENT ANNUAL MEETING BANKERS TRUST PARTIAL SUMMARY JUDGMENT OFTHE COURT HSBC BBC LEGAL RIGHTS LITIGATION WILMINGTON DEFENDANTS CARVER BANCORP HERMAN JOHNSON |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE ;
IN AND FOR NEW CASTLE COUNTY Cl
_
>
IN RE CARVER BANCORP, INC. Cons. CA No. 17743 :
i
]mTICE OF MOTION
:
TO: Jon E. Abramczyk, Esquire Martin S. Lessner, Esquire
Morris Nichols Arsht & Tunchell Young Conaway Stargatt & Taylor
120 1 North Market Street Rodney Square North
P.O. Box 1347 Wilmington, DE 19899-03 9 1
Wilmington, DE 19899-1347
Andre G. Bouchard, Esquire Joseph C. Schoell, Esquire
Bouchard, Margules & Friedlander Morris James Hitchens & Williams
222 Delaware Avenue 222 Delaware Avenue
Suite 1102 Wilmington, DE 1980 1
Wilmington, DE 19801
PLEASE TAKENOTICE that Defendants Carver Bancorp, Inc., Deborah C. Wright, David
N. Dinkins, Linda H. Dunham, Robert J. Franz, Pazel G. Jackson, Jr., Herman Johnson and David
R. Jones (collectively, the "Carver Defendants") hereby move this Court, pursuant to Chancery Court
Rule 54(b), for an order directing the entry of a final judgment on this Court's Opinion and Order
April 24,200O; or, in the alternative, for an order pursuant to Supreme Court Rule 42 certifying an
appeal from an interlocutory order ofthe Court of Chancery of the State of Delaware.
&H&
c
Jesse A. Finkelstein
Michael D. Allen
Richards, Layton & Finger
One Rodney Square
P.O. Box 551
Wilmington, Delaware 19899
(302) 658-6541
SNIPPETS:
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11
.
LETTER OPINION
|
EXTRACTED KEY WORDS
SHARES HSBC CARVER INSPECTOR AUTHORITY VOTES FHLBP BBC HOLDER COURT SUMMARY JUDGMENT ESOP CARVER BANCORP BANK PRESUMPTION ELECTION DELAWARE SECOND AMENDED COMPLAINT PLAN POLICY PROFESSIONAL SOLICITORS RESPONSE PLAN PARTICIPANTS NOMINEES CUSTODIAN DELAWARE LAW DECLARE TENSION PROXIES |
C O U R T O F C H A N C E R Y
OF THE
S T A T E O F D E L A W A R E
DOVER, DE
Andre G. Bouchard Joseph C. Schoell
Joel E. Friedlander Morris, James, Hitchens
Bouchard Margules & Friedlander & Williams
222 Delaware Avenue 222 Delaware Avenue
Suite 1102 Wilmington, DE 1980 1
Wilmington, DE 1980 1
Martin S. Lessner Jesse A. Finkelstein
Young Conaway Stargatt & Taylor Michael D. Allen
P.O. Box 391 Richards Layton & Finger
Wilmington, DE 19899-0391 P.O. Box 551
Wilmington, DE 19899
Jon E. Abramczyk
Morris Nicholas Arsht & Tunnel1
P.O. Box 1347
Wilmington, DE 19899- 1347
Re: In Re Curver Bancovp, Inc.
C.A. No. 17743-NC
Submitted: April 19,200O
Decided: April 24, 2000
Counsel:
Plaintiff BBC Capital Markets moves for partial summary judgment on
Count V of its second amended complaint seeking an order invalidating votes cast
by proxy for 86,382 unallocated ESOP shares of defendant Carver Bancorp. The
inspector at Carver's annual meeting refused a challenge to the purported proxy of
the Federal Home Loan Bank of Pittsburgh and counted the votes in the proportion
In Re Carver Bancorp, Inc. (#I 7743-NC)
April 24,200O
Page 2
SNIPPETS:
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12
.
PLAINTIFFS REPLY BRIEF IN SUPPORT OF MOTION FOR PARTIAL SUMMARY JUDGMENT
|
EXTRACTED KEY WORDS
SHARES VOTE BENEFICIARIES CARVER FHLBP LAW BENEFICIAL OWNER AUTHENTICITY ESOP DELAWARE INVALID BEARS FACIALLY DEFECTIVE PROXY INDICATION DEFECTIVE PROXY UNALLOCATED SHARES HSBC CARVER DEFENDANTS SUMMARY JUDGMENT INSTRUCTIONS RECORD HOLDER PLAINTIFF ESOP PARTICIPANTS SIGNATURE SHAPIRO FORMAN PLAN PARTICIPANTS PARTIAL SUMMARY JUDGMENT ALLEN LLP AUTHORITIES |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE CJ
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.,
Plaintiff,
;
V. > Civil Action No. 17743
)
CARVER BANCORP, INC., a Delaware )
corporation, DEBORAH C. WRIGHT, )
DAVID N. DINKINS, LINDA H.
DUNHAM, ROBERT J. FRANZ, i
PAZEL G. JACKSON, JR., HERMAN )
JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL, ;
MORGAN STANLEY & CO. i *
INCORPORATED, a Delaware ; : 1
.
corporation, and PROVENDER L,
_^
OPPORTUNITIES FUND, L.P., a ; -. ,'
Delaware limited partnership, -, J
; ; ,:I
".
Defendants. > : CA.3
-"a
PLAINTIFF'S REPLY BRIEF IN SUPPORT OF
MOTION FOR PARTIAL SUMMARY JUDGMENT
Andre G. Bouchard
Joel Friedlander
BOUCHARD MARGULES & FRIEDLANDER
222 Delaware Avenue, Suite 1102
Wilmington, DE 19801
(302) 573-3500
Attorneys for Plaintiff
OF COUNSEL:
Stuart L. Shapiro
SHAPIRO FORMAN & ALLEN LLP
380 Madison Avenue
New York, NY 10017
(212) 972-4900
DATED: April 17, 2000
SNIPPETS:
|
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13
.
DEFENDANTS CARVER BANCORP AND INDIVIDUAL DIRECTORS OPPOSITION TO MOTION FOR PARTIAL SUMMARY JUDGMENT
|
EXTRACTED KEY WORDS
SHARES FHLB PROXY DEL HSBC VOTE UNALLOCATED SHARES COURT MOTION DELAWARE CARVER SUMMARY JUDGMENT DEL SUPR BLOOM PRESTON PLAINTIFFS ESOP SIGNATURE PARTIAL SUMMARY JUDGMENT BANKERS TRUST ELECTIONS ANNUAL MEETING STANDARD INDUSTRY EXTRINSIC EVIDENCE ALLOCATED SHARES ERISA DEFENDANTS CARVER BANCORP CARVER BANCORP INDIVIDUAL DIRECTORS ACCORDANCE |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.
Plaintiff,
; `_
!. ,:
V. :. "
; CA. No. 17743 i
CARVER BANCORP, INC., a Delaware
corporation, DEBORAH C. WRIGHT,
; _"
DAVID N. DINKINS, LINDA H. DUNHAM,
ROBERT J. FRANZ, PAZEL G. JACKSON, JR., i
HERMAN JOHNSON, DAVID R. JONES, . . ...`
FREDERICK 0. TERRELL, MORGAN . :i
;
STANLEY & CO. INCORPORATED,
a Delaware corporation, and PROVENDER 1
OPPORTUNITIES FUND, L.P., a Delaware
limited partnership, ;
Defendants.
DEFENDANTS CARVER BANCORP, INC.
AND THE INDIVIDUAL DIRECTORS OPPOSITION
TO PLAINTIFF'S MOTION FOR PARTIAL SUMMARY JUDGMENT
Jesse A. Finkelstein
Michael D. Allen
RICHARDS LAYTON & FINGER
One Rodney Square
P.O. Box 551
Wilmington Delaware 19899
(302) 658-6541
OF COUNSEL: Attorneys for Defendants Carver Bancorp,
Inc. and the Individual Directors
THACHER PROFFITT & WOOD
Two World Trade Center
New York, New York 10048
(212) 912-7400
Dated: April 13, 2000
RLFl-2144706-l
SNIPPETS:
|
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14
.
PLAINTIFFS OPENING BRIEF IN SUPPORT OF MOTION FOR PARTIAL SUMMARY JUDGMENT
|
EXTRACTED KEY WORDS
ESOP HSBC VOTE VOTING CARVER PROXY CARD BENEFICIARIES DELAWARE COURT LAW TRUST FHLBP SUMMARY JUDGMENT INTENT EXHIBIT RECORD HOLDER PLAN PARTICIPANTS BBC CAPITAL MARKET CARVER BANCORP SHAPIRO FORMAN PRELIMINARY STATEMENT FUTURE BENEFICIARIES SIGNATURE ELECTION DEFENDANTS ALLEN LLP LOAN SUSPENSE ACCOUNT FEDERAL HOME LOAN STOCKHOLDER |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.,
Plaintiff,
;
V. Civil Action No. 17743
;
CARVER BANCORP, INC., a Delaware )
corporation, DEBORAH C. WRIGHT, )
DAVID N. DINKINS, LINDA H.
DUNHAM, ROBERT J. FRANZ, 1
PAZEL G. JACKSON, JR., HERMAN )
JOHNSON, DAVID R. JONES, )
FREDERICK 0. TERRELL,
MORGAN STANLEY & CO. ;
INCORPORATED, a Delaware
corporation, and PROVENDER ;
OPPORTUNITIES FUND, L.P., a
Delaware limited partnership, i
Defendants.
PLAINTIFF'S OPENING BRIEF IN SUPPORT OF
MOTION FOR PARTIAL SUMMARY JUDGMENT
Andre G. Bouchard
Joel Friedlander
BOUCHARD MARGULES & FRIEDLANDER
222 Delaware Avenue, Suite 1102
Wilmington, DE 19801
(302) 573-3500
Attorneys for Plaintiff
OF COUNSEL:
Stuart L. Shapiro
SHAPIRO FORMAN & ALLEN LLP
380 Madison Avenue
New York, NY 10017
(212) 972-4900
DATED: April 6, 2000
TABLE OF CONTENTS
SNIPPETS:
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15
.
ANSWER TO SECOND AMENDED COMPLAINT
|
EXTRACTED KEY WORDS
SECOND AMENDED COMPLAINT DEFENDANT ALLEGATIONS TRUTH ADMITS CARVER DEFENDANT DENIES COURT RESPECTFULLY REFERS PROXY STATEMENT CERTIFICATE DELAWARE WRIGHT DAVID ATTORNEYS RESPONSES DEFENDANT REPEATS REALLEGES PRELIMINARY PROXY STATEMENT REFERENCED ARTICLE DEBORAH MORGAN STANLEY INCORPORATION KEVIN COHEE PREFERRED STOCK FRIEND LEWIS DESIGNATIONS ACCURATE STATEMENT |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY /'?
BBC CAPITAL MARKET, INC., 1)
Plaintiff, ))
V. ) Civil Action No. 17743
CARVER BANCORP, INC., a
Delaware corporation,
DEBORAH C. WRIGHT, DAVID
N. DINKINS, LINDA H.
DUNHAM, ROBERT J. FRANZ,
PAZEL G. JACKSON, JR., HERMAN
JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL,
MORGAN STANLEY & CO.
INCORPORATED, a Delaware
corporation, and PROVENDER
OPPORTUNITIES FUND, L.P., a
Delaware limited partnership,
Defendants.
ANSWER TO SECOND AMENDED COMPLAINT
Defendant Morgan S t a n l e y & co. Incorporated
("Defendant") , by and through its attorneys, hereby responds to
plaintiff's second amended complaint (the "Second Amended
Complaint") as follows:
1. Paragraph 1 of the Second Amended Complaint does
non state averments of fact requiring responsive pleading. To
the extent any response is required, -he allegations in
paragraph 1 of the Second Amended Complaint are denied.
2. Denied.
3. Denied, except admit that BBC Capital ran a slate
of two persons ~- Kevin Cohee and his wife, Teri Williams -- for
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ANSWER TO SECOND AMENDED COMPLAINT
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EXTRACTED KEY WORDS
ALLEGATIONS CARVER DEFENDANTS RESPONSE PARAGRAPH DEFENDANTS DENY KNOWLEDGE CARVER DEFENDANTS DENY FIRST SENTENCE COURT WRIGHT DAVID MORGAN STANLEY INFORMATION SUFFICIENT ATTORNEYS KEVIN COHEE TERI WILLIAMS LOST CARVER DEFENDANTS ADMIT DELAWARE LIMITED PARTNERSHIP BBC CAPITAL MARKET HERMAN JOHNSON FREDERICK THIRD SENTENCE FEDERAL SAVINGS BANK CARVER DEFENDANTS REPEAT CHANCERY DEFENDANTS CARVER BANCORP ATTORNEYS RICHARDS RE-ELECTION TERMS SET CONDITIONS SET |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.,
Plaintiff, >
V. `, C.A. No. 17743
CARVER BANCORP., INC., a Delaware, i
corporation, DEBORAH C. WRIGHT,
DAVID N. DINKINS, LINDA H. DUNHAM, 1
ROBERT J. FRANZ, PAZEL G. JACKSON, JR. )
HERMAN JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL, i
MORGAN STANLEY & CO. INC. a
Delaware corporation, and PROVENDER ;
OPPORTUNITIES FUND, L.P., >
a Delaware limited partnership,
i
Defendants. )
ANSWER TO SECOND AMENDED COMPLAINT
Defendants Carver Bancorp, Inc. ("Carver"), Deborah C. Wright, David N. Dir%&, Linda
H. Dunham, Robert J. Franz, Pazel G. Jackson, Jr., Herman Johnson, David R. Jones and Frederick
0. Terre11 (collectively, the "Carver Defendants"), by and through their attorneys Richards, Layton
& Finger, hereby answer plaintiffs second amended complaint in this action, dated March 7, 2000
(the "Second Amended Complaint") as follows:
1. The allegations of paragraph 1 of the Second Amended Complaint state a legal
conclusion or description as to which no response is required. To the extent a response is required,
such allegations are denied.
2. The allegations of paragraph 2 of the Second Amended Complaint are denied.
RLFl-2136685-l -l-
3. The allegations in paragraph 3 of the Second Amended Complaint are denied, except
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17
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SECOND AMENDED COMPLAINT
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EXTRACTED KEY WORDS
PROVENDER DIRECTORS ELECTION STOCKHOLDERS VOTES DEFENDANTS MORGAN STANLEY DAVID COHEE COURT LAW STOCK SHARES ANNUAL MEETING WRIGHT DELAWARE CORPORATION TERI WILLIAMS OPPORTUNITIES FUND BBOC ESOP PREFERRED STOCK LEGITIMATE EXECUTIVE OFFICER TRANSACTION SENIOR VICE PRESIDENT CARVER BANCORP FUNDAMENTAL PRINCIPLE CORPORATE FRANCHISE ABSENT RECOMMENDATION |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL, MARKET, INC.,
Plaintiff,
i
V. Civil Action No. 17743
;
CARVER BANCORP, INC., a Delaware )
corporation, DEBORAH C. WRIGHT, )
DAVID N. DINKINS, LINDA H.
DUNHAM, ROBERT J. FRANZ, i
PAZEL G. JACKSON, JR., HERMAN )
JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL, i
MORGAN STANLEY & CO. INC., a )
Delaware corporation, and PROVENDER )
OPPORTUNITIES FUND, L.P., a
Delaware limited partnership, 1
Defendants.
SECOND AMENDED COMPLAINT
IPlaintiff BBC Capital Market, Inc. ("BBC Capital"), by its undersigned
attorneys, upon knowledge as to itself and its own actions and otherwise upon
information and belief, alleges as follows:
Nature of the Action
1. A fundamental principle of Delaware law is that directors cannot
interfere with the free exercise of the corporate franchise absent a compelling
justification. When a contest for the election of directors has been announced and is
underway, the prospect that the stockholders might vote differently than the board
recommends does not constitute a legitimate threat to a corporate interest justifying
defensive action. These principles, recognized by this Court in Blush Industries v.
Atlas Corp. and. Stahl v. Apple Bancorp, and endorsed by the Supreme Court in Stroud
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18
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ANSWER TO AMENDED COMPLAINT
|
EXTRACTED KEY WORDS
ALLEGATIONS PARAGRAPH CARVER DEFENDANTS RESPONSE AMENDED COMPLAINT STATE COURT FIRST SENTENCE DAVID WRIGHT SECOND SENTENCE TERMS SET MORGAN STANLEY PROVENDER INFORMATION SUFFICIENT DEFENDANTS DENY KNOWLEDGE PLAINTIFFS AMENDED COMPLAINT CARVER DEFENDANTS DENY DELAWARE LIMITED PARTNERSHIP ATTORNEYS RICHARDS CARVER DEFENDANTS ADMIT BBC CAPITAL MARKET HERMAN JOHNSON FREDERICK PROXY STATEMENT CARVER BANCORP DEFENDANTS REPEAT OFTHE AMENDED COMPLAINT PRELIMINARY PROXY STATEMENT |
IN THE COURT OF CHANCERY OF THE STATE OF
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.,
Plaintiff,
V
CARVER BANCORP., INC., a Delaware,
corporation, DEBORAH C. WRIGHT,
DAVID N. DINKINS, LINDA H. DUNHAM,
ROBERT J. FRANZ, PAZEL G. JACKSON, JR
HERMAN JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL,
MORGAN STANLEY & CO. INC. a
Delaware corporation, and PROVENDER
OPPORTUNITIES FUND, L.P.,
a Delaware limited partnership,
Defendants
.
:`1
,p ,i
ANSWER TO AMENDED COMPLAINT _
1 -.s
Defendants Carver Bancorp, Inc. ("Carver"), Deborah C. Wright, David N. Dir&ins, Linda
H. Dunham, Robert J. Franz, Pazel G. Jackson, Jr., Herman Johnson, David R. Jones ar&%rederick
0. Terre11 (collectively, the "Carver Defendants"), by and through tE.eir attorneys Richards, Layton
& Finger, hereby answer plaintiffs amended complaint in this action, dated January 3 1, 2000 (the
"Amended Complaint") as follows:
1. The allegations of paragraph 1 of the Amended Complaint state a legal conclusion or
description as to which no response is required. To the extent a response is required, such
are denied
2. The allegations of paragraph 2 of the Amended Complaint are denied.
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19
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DEFENDANT MORGAN STANLEYS ANSWERING BRIEF IN OPPOSITION TO MOTION FOR PRELIMINARY INJUNCTION
|
EXTRACTED KEY WORDS
CARVER PLAINTIFF BUSINESS INVESTMENT INJUNCTION VOTE SHARES WRIGHT BASIS COURT DEBORAH DAVID DEFENDANT MORGAN ABETTING DEL DELAWARE PROVENDER BUSINESS PLAN ANNUAL MEETING FIDUCIARY DUTY EVIDENCE PREFERRED STOCK FRIEDLANDER AFF BBC CAPITAL MARKET CARVER BANCORP FREDERICK LAW ENTRY INJUNCTION DEPRIVING MORGAN |
IN THE: COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.,
Plaintiff,
V.
CARVER BANCORP, INC., a
Delaware corporation,
DEBORAH C. WRIGHT, DAVID
N. DINKINS, LINDA H.
DUNHAM, ROBERT J. FRANZ,
PAZEL G. JACKSON, JR., HERMAN
JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL,
MORGAN STANLEY & CO.
INCORPORATED, a Delaware
corporation, and PROVENDER
OPPORTUNITIES FUND, L.P., a
Delaware limited partnership,
Defendants.
DEFENDANT MORGAN STANLEY & CO. INCO:RI?OlUiTED'S
ANSWERING BRIEF IN OPPOSITION TO PLAINTIFF'S
MOTION FOR A PRELIMINARY INJUNC!PION
MORRIS, NICHOLS, ARSHT & TUNNELL
A. Gilchrist Sparks, III
Jon E. Abramczyk
David J. Teklits
1201 N. Market Street
P.O. Box 1347
Wilmington, DE 19899-1347
(302) 658-9200
Attorneys for Defendant
Morgan Stanley & Co. Incorporated
February 12, 2000
1.
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20
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PLAINTIFFS OPENING BRIEF IN SUPPORT OF MOTION FOR PRELIMINARY INJUNCTION
|
EXTRACTED KEY WORDS
CARVER MORGAN STANLEY PROVENDER ADVISORS COURT STOCK DUNHAM PRELIMINARY INJUNCTION SHARES TERRE11 MEETING COHEE JOHNSON DEFENDANTS DAVID PLAINTIFF DIRECTORS PROXY CONTEST SHAREHOLDERS ANTI-TAKEOVER ADVISORS INVESTMENT TRANSACTION STOCKHOLDERS BBC CAPITAL MARKET PREFERRED STOCK ANNUAL MEETING SHAPIRO FORMAN PROPOSALS BBOC |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE ~/it& `wF--
IN AND FOR NEW CASTLE COUNTY
BBC CAPITAL MARKET, INC.,
Plaintiff,
V. Civil Action No. 17743
CARVER BANCORP, INC., a Delaware
corporation, DEBORAH C. WRIGHT,
DAVID N. DINKINS, LINDA H.
DUNHAM, ROBERT J. FRANZ,
PAZEL G. JACKSON, JR., HERMAN FILED UNDER SEAL
JOHNSON, DAVID R. JONES,
FREDERICK 0. TERRELL,
MORGAN STANLEY & CO.
INCORPORATED, a Delaware
corporation, and PROVENDER
OPPORTUNITIES FUND, L.P., a
Delaware limited partnership,
Defendants.
PLAINTIFF'S OPENING BRIEF IN SUPPORT OF
MOTION FOR PRELIMINARY INJUNCTION
Andre G. Bouchard
Joel Friedlander
BOUCHARD MARGULES & FRIEDLANDER
222 Delaware Avenue, Suite 1102
Wilmington, DE 19801
(302) 573-3500
Attorneys for Plaintiff
OF COUNSEL:
Stuart L. Shapiro
SHAPIRO FORMAN & ALLEN LLP
380 Madison Avenue
New York, NY 10017
(2 12) 972-4900
DATED: February 7, 2000
TABLE OF CONTENTS
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ANSWER
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EXTRACTED KEY WORDS
PARAGRAPH ALLEGATIONS DEFENDANT INFORMATION SUFFICIENT ADMITS TRUTH CARVER DEFENDANT DENIES COURT RESPECTFULLY REFERS PROXY STATEMENT PRELIMINARY PROXY STATEMENT RESPONSE REQUIRING FIRST SENTENCE DEFENDANT REPEATS REALLEGES DISMISSING REFERENCED ARTIC |
