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1
.
MEMORANDUM OPINION
|
EXTRACTED KEY WORDS
PLAINTIFF DEFENDANTS LEUNG INSIDERS DELAWARE STOCK GILES AMENDED COMPLAINT JAMES DIRECTORS FACTS SCHULER JOHN PATIENCE INSIDER SALE FAIR MARKET BUSINESS JUDGMENT TRANSACTION EDWARD GILES JAMES WEERSING NOTEHOLDERS NELSON LEUNG JAMES DANEHY MARQUETTE VENTURE PARTNERS DELAWARE LIMITED PARTNERSHIP WILMINGTON ATTORNEYS WILSON SONSINI GOODRICH ROSATI CALIFORNIA |
IN THE C0UR.T OF CHANCERY OF THE STATE OF DELAWARE
.IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf
of all others similarly situate.d, and derivatively
on behalf of VENTANA MEDICAL
SYSTEMS, INC., a Delaware corporation,
Plaintiff,
V. CA. No. 17089
JACK W. SCHULER, JOHN PATIENCE, R.
JAMES DANEHY, EDWARD GILES, THOMAS
M. GROGAN, M.D., JAMES M. STICKLAND,
JAMES WEERSING, VENTANA MEDICAL
SYSTEMS INC., a Delaware corporation,
MARQUETTE VENTURE PARTNERS, L.P.,
a Delaware limited partnership and MVP II
AFFILIATES FUND, L.P., a Delaware limited
partnership.,
Defendants,
MEMORANDUM OPINION
Date Submitted: July 12, 1999
Date Decided.
----A September 29.2000
Craig B. Smith, David A. Jenkins and Michele C. GelJtt, Esquires, of SMITH,
KATZENSTEIN & FURLOW LLP, Wilmington, Delaware; Attorneys for Plaintiff
Jesse A. Finkelstein and Raymond J. DiCamillo, Esquires, of' RICHARDS, LAYTON iE
FINGER, Wilmington, Delaware; and Steven M. Schatz, David J. Berger and Elizabeth M.
Saunders, Esquires, of WILSON SONSINI GOODRICH & ROSATI, Palo Alto, California;
and Michele E. Rose, Esquire, of WILSON SONSINI GOODRICH & ROSATI, McLean,
Virginia; Attorneys for Defendants
JACOBS;, VICE CHANCELLfOR
Pending is the defendants renewed motion under Court of Chancery Rules
12(b)(6) and 23.1' to dismiss the amended complaint in this stockholder derivative
SNIPPETS:
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2
.
DEFENDANTS REPLY BRIEF IN SUPPORT OF MOTION TO DISMISS AMENDED COMPLAINT
|
EXTRACTED KEY WORDS
COURT AMENDED COMPLAINT DEL PLAINTIFF COMMON STOCK WASTE SUPR FAIR MARKET DISMISS COMPENSATION PACKAGE SCHULER MESSRS PATIENCE VENTANA BOARD FACTS MOTION DIRECTORS BUSINESS JUDGMENT DEFENDANTS ALLEGATIONS INDEPENDENT VENTANA BOARD BIOTEK ACQUISITION PLAINTIFFS ANSWERING PRIOR OPINION BIOTEK MERGER TECHNICOLOR EMERALD PARTNERS GREENWALD BATTERSON |
L ii, \ & L I. L_
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN' AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf )
of all others similarly situated, and derivatively )
on behalf of VENTANA MEDICAL
SYSTEMS, INC., a Delaware corporation, i
Plaintiff, i
V. ; CA. No. 17089
>
JACK W. SCHULER, JOHN PATIENCE, R. )
JAMES DANEHY, EDWARD GILES, `;:
r
THOMAS M. GROGAN, M.D., JAMES ; s!iT _ i
1-L
M. STRICKXAND, JAMES WEERSING and ) 27
. ,,
.._ :
VENTANA MEDICAL SYSTEMS, INC., n.
-p
a Delaware corporation, ; .-`
Lx \
m:.
-y .*
-e_
Defendants. ; w 2 -- : J
WC. 1.
x t-P i
DEFENDANTS' REPLY BRIEF IN SUPPORT OF -2 O1
THEIR MOTION TO DISMISS THE AMENDED COMPLAINT
OF COUNSEL:
Steven M. Schatz Jesse A. Finkelstein
David J. Berger Raymond J. DiCamillo
Elizabeth M. Saunders Richards, Layton & Finger
Wilson Sonsini Goodrich & Rosati One Rodney Square
650 Page Mill Road P.O. Box 551
Palo Alto, California 94304-1050 Wilmington, Delaware 19899
(650) 493-9300 (302) 658-6541
Attorneys for Defendants
SNIPPETS:
|
|
3
.
PLAINTIFFS ANSWERING BRIEF IN OPPOSITION TO DEFENDANTS MOTION TO DISMISS
|
EXTRACTED KEY WORDS
STOCK COURT DIRECTORS FACTS MOTION PLAINTIFF SCHULER FAIR MARKET PATIENCE GILES INSIDERS DISMISS VENTANA DEL FAITH AMENDED COMPLAINT BUSINESS JUDGMENT DETERMINATION JOHN PATIENCE DAJI TRANSACTION DELIBERATE VALID EXERCISE REVERSE STOCK SPLIT MEDICAL SYSTEMS EDWARD GILES PROCEEDING FEDERAL ACTION COMMON STOCK |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on )
behalf of all others similarly situated, and )
derivatively on behalf of VENTANA 1
MEDICAL SYSTEMS, INC., a Delaware )
corporation,
;
Plaintiff, i
1.. :
i .-' .I
V. C.A. No. 17089
i
JACK W. SCHULER, JOHN PATIENCE, )
R. JAMES DANEHY, EDWARD GILES, )
THOMAS M. GROGAN, M.D., JAMES )
M. STRICKLAND, JAMES WEERSING, ) :
and VENTANA MEDICAL SYSTEMS, )
INC., a Delaware corporation, ))
Defendants. )
PLAINTIFFS' ANSWERING BRIEF IN
OPPOSITION TO THE DEFENDANTS' MOTION TO DISMISS
SMITH, KATZENSTEIN & FURLOW LLP
Craig B. Smith
David A. Jenkins
Michele C. Gott
800 Delaware Avenue
P.O. Box 410
Wilmington, DE 19899
(302) 652-8400
May 10,200O Attorneys for Plaintiff
DAJll34,WPD
99043
TABLE OF CONTENTS
SNIPPETS:
|
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4
.
LETTER TO V.C. JACOBS
|
EXTRACTED KEY WORDS
STOCK DEFENDANTS SUPREME COURT WASTE FAIR MARKET FAITH CHANCELLOR DIRECTORS DUTY VENT PLAINTIFF AMEND DEL ALLEGES REASONABLE BUSINESS PARAGRAPH PRICE INSIDERS DELIBERATE JENKINS VICE CHANCELLOR JACK JACOBS DEFENDANTS NOTE MOTION FACTS BREHM SUPR SLIP VENTANA |
The
800
March 28,200O
Craig B. Smith Fax
RohertJ. Karzenstein BY HAND DELIVERY
David A. Jenkins
Laurence V. Cronin Vice Chancellor Jack B. Jacobs
Charles E. Butler Court of Chancery
Daniel L. Hermann Courthouse
Michele C. Gott 1020 North King Street
Kathleen M. Miller Wilmington, DE 19801
Joelk E. Polesky
Re: Leunp. et al., v. Schuler, et al., C. A. No. 17089
Of Counrel
Clark W. Furlow
Dear Vice Chancellor Jacobs:
I write in response to Mr. DiCamillo's letter to the Court of
anticipation of the conference with the Court later today. The
correspond to those in Mr. DiCamillo's.
I. The Amlicable Standards
Then-Vice Chancellor Chandler did determine, in Litman v.
Properties, Inc., Del. Ch., C.A. No. 12137, Chandler, V.C. (Apr.
amendment as of right pursuant to Chancery Court Rule 1 S(a) is no
once a court dismisses a complaint. However, the Vice Chancellor
split of authority exists" on the issue (slip op. at 2-3, citing
Miller, Federal Practice and Procedure $1357, at 372 (2d ed.
(at footnote 9 1) to a number of. federal circuits that do allow
right). Even assuming that Litman established a rule to the
facts of this case are sufficiently unusual that a different
here.
As I explained in my letter to the Court of March 17, 2000, the
plaintiff seeks to plead in his amended complaint were uncovered
this action. Typically where discovery is ongoing during the
dismiss, relevant facts uncovered during that discovery can be
attention via an amended complaint. Here, however, pursuant to
this Court on December 8, 1999 staying this action, plaintiff was
SNIPPETS:
|
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5
.
LETTER TO V.C. JACOBS
|
EXTRACTED KEY WORDS
PLAINTIFF AMEND COURT STOCK DISMISS SCHULER DIRECTORS PATIENCE OPINION VENTANA JUDGEMENT AMENDED COMPLAINT MESSRS DEFENDANTS MATTER WASTE BREACH MOTION PERMIT JACOBS HONORABLE JACK PROPOSED AMENDMENTS ASSERT FACTS ALLEGE HERETO EXHIBIT SLIP BUSINESS JUDGMENT RULE |
R I C H A R D S , L A Y T O N & FINGER
A PROFE*S,ON*L ASSOC!ATION
O NE R ODNEY S QUARE
P.O. B OX 551
W I L M I N G T O N , D E L A W A R E 1989'3
T ELEPHONE : (302) 6565541
T ELECOPIER : (302) 6585546
WESSITE: www. RLF.COt-4
March 23. 2000
The Honorable Jack B Jacobs
-
\`ice Chancellor .-
Court of Chanter)
1000 North King Street -.
Li ilmington. Delalvarz 19SO I
Re Leune v. Schuler, et al.. CA. No. 17089
Dear L'ice Chancellor Jacobs
ln anticipation of the offLze conference scheduled for Tuesday, March 35.
2 00 p m.. I rvrite on behalf of defendants in response to Mr. Jenkins' letter dated >Iarch 17, 2000
For the reasons set forth below, plaintiffs attempt to resurrect his deficient complaint should be
rejected.
Backeround
Plaintiff brought this purported class and derivative iaction challenging the
by Ventana Medical Systems, Inc. ("Ventana") of shares of common :jtock to Ventana directors Jack
W. Schuler and John Patience. Plaintiffs complaint set forth five causes of action: Rescission of
Invalidly Issued Stock, Waste, Breach of the Duty of Good Faith, Breach of Contract and Breach of
the Duty of Disclosure. Defendants moved to dismiss the complaint on the grounds that plaintiff
failed to satisfy the requirements of Court of Chancery Rule 23. I ("Rule 23. I") and that the
complaint failed to state a claim upon which relief could be granted. .By memorandum opinion dated
February 29, 2000 (the "Opinion"), the Court granted defendants' motion and dismissed the
complaint in its entirety. Plaintiff apparently now believes that he can amend his complaint without
SNIPPETS:
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6
.
AMENDED CLASS ACTION AND DERIVATIVE COMPLAINT
|
EXTRACTED KEY WORDS
STOCK BIOTEK DEFENDANTS COMMON STOCK HOLDERS BIOTEK INVESTOR LEUNG INSIDERS MERGER CLASS ACTION PLAINTIFF SCHULER SALE PATIENCE GILES FAIR MARKET VENTANA EXCHANGE NOTES VENTANA MEDICAL SYSTEMS STOCKHOLDERS DELAWARE CORPORATION JAMES DANEHY AGREEMENT EDWARD GILES JAMES WEERSING DERIVATIVE COMPLAINT DETERMINATION CLASS MEMBERS MERGER APPROVAL DOCUMENTS STRICKLAND |
IIN THE COURT OF CHANCERY OF THE STATE OF DELAWARE &
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on )
behalf of all others similarly situated, and )
derivatively on behalf of VENTANA
MEDICAL SYSTEMS, INC., a Delaware 1
corporation,
i
Plaintiff, >
V. 1 CA. No. 17089
>
JACK W. SCHULER, JOHN PATIENCE, )
R. JAMES DANEHY, EDWARD GILES, )
THOMAS M. GROGAN, M.D., JAMES )
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., )
a Delaware corporation
i
Defendants. )
AMENDED CLASS ACTION AND DERIVATIVE COMPLAINT
A. The Parties
1. Plaintiff Nelson Leung is a resident of California. Mr. Leung is, and
has been since March 26, 1996, a holder of common stock of defendant Ventana Medical
Systems, Inc. In addition, at all relevant times, Mr. Leung was a holder of BioTek Investor
Notes (as defined below).
2. Defendant Ventana Medical Systems, Inc. is a Delaware corporation
with its headquarters in Tucson, Arizona. Ventana develops, manufactures and markets
various tests used in diagnosing and selecting treatment for cancer.
1
3. Defendants Jack W. Schuler, John Patience, R. James Danehy, Edward
SNIPPETS:
|
|
7
.
MEMORANDUM OPINION
|
EXTRACTED KEY WORDS
PLAINTIFF DEFENDANTS STOCK DELAWARE COURT MARQUETTE VENTURE PARTNERS INSIDER SALE BIOTEK NOTEHOLDERS DIRECTORS EXCHANGE REORGANIZATION AGREEMENT JAMES FIDUCIARY DUTY DEL SHARES DISCLOSURE COMPLAINT CALIFORNIA STOCKHOLDER INCORPORATION COMMON STOCK VENTANA MEDICAL SYSTEMS AFFILIATES FUND DEFENDANTS ARGUE JOHN PATIENCE LIMITED PARTNERSHIP FAIR MARKET TRANSACTION CONNECTION |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf
of all others similarly situated, and derivatively
on behalf of VENTANA MEDICAL
SYSTEMS, INC., a Delaware corporation,
Plaintiff,
V. CA. No. 17089
JACK W. SCHULER, JOHN PATIENCE, R.
JAMES DANEHY, EDWARD GILES, THOMAS
M. GROGAN, M.D., JAMES M. STICKLAND,
JAMES WEERSING, VENTANA MEDICAL
SYSTEMS, INC., a Delaware corporation,
MARQUETTE VENTURE PARTNERS, L.P.,
a Delaware limited partnership and MVP II
AFFILIATES FUND, L.P., a Delaware limited
partnership,
Defendants,
MEMORANDUM OPINION
Date Submitted: October 11, 1999
Date Decided: 29.2004
February
Craig B. Smith, David A. Jenkins and Michele C. G&t, Esquires, of SMITH,
KATZENSTEIN & FURLOW LLP, Wilmington, Delaware; Attorneys for Plaintiff
Jesse A. 1Fink:elstein and Raymond J. DiCamillo, Esquires, of RICHARDS, LAYTON &
FINGER, Wilmington, Delaware; and Steven M. Schatz, Elizabeth M. Saunders and Michele
E. Rose, Esquires, of WILSON SONSINI GOODRICH & ROS.ATI, Palo Alto, California;
Attorneys for Defendants Jack W. Schuler, John Patience, R. James Danehy, Edward Giles,
Thomas M. Grogan, James M. Stickland, James Weersing and Ventana Medical Systems,
Inc.
JACOBS, VICE CHANCELLOR
Pending are the defendants' motions to dismiss this stockholder derivative
and class action under Court of Chancery Rules 12(b)(6) and 23.1. Under
SNIPPETS:
|
|
8
.
VENTANA DEFENDANTS REPLY BRIEF IN SUPPORT OF THEIR MOTION TO DISMISS
|
EXTRACTED KEY WORDS
PLAINTIFF VENTANA DEFENDANTS DEL STOCK DELAWARE COMPENSATION PACKAGE AGREEMENT DIRECTORS COMPLAINT MOTION FAIR MARKET FACTS COURT SUPPORT FIDUCIARY DUTY BUSINESS JUDGMENT ALLEGATIONS COMMON STOCK NOTE EXCHANGE AGREEMENT INCORPORATION BIOTEK NOTEHOLDERS VENTANA SHAREHOLDER CONVERSION PRICE PAB REORGANIZATION AGREEMENT DOB GENERAL CORPORATION LAW GENERAL MOTORS CLASS PLAINTIFFS ANSWERING |
/4 fl,
41 q
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE 2i I
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf
of all others similarly situated, and derivatively
on behalf of VENTANA MEDICAL
SYSTEMS, INC., a Delaware corporation,
>
Plaintiff, >>
V. > C.A. No. 17089
>
JACK W. SCHULER, JOHN PATIENCE, R. >
JAMES DANEHY, EDWARD GILES, >
THOMAS M. GROGAN, M.D., JAMES >
M. STICKLAND, JAMES WEERSING, >
VENTANA MEDICAL SYSTEMS, INC., >
a Delaware corporation, MARQUETTE >
VENTURE PARTNERS, L.P., a Delaware >
limited partnership, MARQUETTE VENTURE >
PARTNERS II, L.P., a Delaware limited >
partnership and MVP II AFFILIATES FUND, >
L.P., a Delaware limited partnership, >>
Defendants. 1
VENTANA DEFENDANTS' REPLY BRIEF
IN SUPPORT OF THEIR :MOTION TO DISMISS
OF COUNSEL:
Jesse A. Finkelstein
Steven M. Schatz Raymond J. DiCamillo
Elizabeth M. Saunders Richards, Layton & Finger
Michele E. Rose One Rodney Square
Wilson Sonsini Goodrich & Rosati P.O. Box 551
650 Page Mill Road Wilmington, Delaware 19899
Palo Alto, California 94304-1050 (302) 658-6541
(650) 493-9300 Attorneys for Defendants Jack W.
Schuler, John Patience, R. James
Danehy, Edward Giles, Thomas M.
Grogan, James M. Stickland, James
Weersing and Ventana Medical
Dated: October 11, 1999 Systems, Inc.
RLFl-2067092-1
SNIPPETS:
|
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9
.
VENTANA DEFENDANTS REPLY BRIEF IN SUPPORT OF THEIR MOTION TO STAY
|
EXTRACTED KEY WORDS
VENTANA DEFENDANTS FEDERAL ACTION LEUNG PLAINTIFF DEL MOTION PARTIES MCWANE PAB COMMUNITY PROPERTY SLIP GREENBERG AFF SUPPORT PENDING STANDARD PLAINTIFF ARGUES MARRIAGE FAMILY MEMBERS RELATIVES CHANCERY DELAWARE NELSON LEUNG LIMITED PARTNERSHIP AUTHORITIES CALIFORNIA LAW VICE CHANCELLOR EVIDENCE WIRGINIS IMPARTIALITY |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf )
of all others similarly situated, and derivatively )
on behalf of VENTANA MEDICAL >
SYSTEMS, INC., a Delaware corporation, )
>
Plaintiff, >>
V. ) C.A. No. 17089
>
JACK W. SCHULER, JOHN PATIENCE, R. )
JAMES DANEHY, EDWARD GILES, >
THOMAS M. GROGAN, M.D., JAMES >
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., )
a Delaware corporation, MARQUETTE >
VENTURE PARTNERS, L.P., a Delaware )
limited partnership, MARQUETTE VENTURE )
PARTNERS II, L.P., a Delaware limited >
partnership and MVP II AFFILIATES FUND, )
L.P., a Delaware limited partnership, )
Defendants. >
VENTANA DEFENDANTS' REPLY BRIEF
IN SUPPORT OF THEIR MOTION TO STAY
OF COUNSEL: Jesse A. Finkelstein
Raymond J. DiCamillo
Steven M. Schatz Richards, Layton & Finger
Elizabeth M. Saunders One Rodney Square
Michele E. Rose P.O. Box 551
Wilson Sonsini Goodrich & Rosati Wilmington, Delaware 19899
650 Page Mill Road (302) 658-6541
Palo Alto, California 94304-1050 Attorneys for Defendants Jack W. Schuler,
(650) 493-9300 John Patience, R. James Danehy, Edward
Giles, Thomas M. Grogan, James M.
Strickland, James Weersing and Ventana
Medical Systems, Inc.
Dated: October 11, 1999
RLFl-2065606-1
TABLE OF CONTENTS
SNIPPETS:
|
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10
.
PLAINTIFFS ANSWERING BRIEF IN OPPOSITION TO VENTANA DEFENDANTS MOTION TO STAY
|
EXTRACTED KEY WORDS
VENTANA DELAWARE SUPR SUPER PLAINTIFF MERGER INSIDERS SALE LITIGATION STEELE SECURITY CHANDLER DONALD GUDELJ APP ENG GAS PRACTICE COURT CHANCERY MEDICAL SYSTEMS JAMES BIOTEK APPROVE INVESTOR BOARD MEETING PENDING AMERICA AMERICA AFL-CIO-CLC |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on )
behalf of all others similarly situated, and )
derivatively on behalf of VENTANA >
MEDICAL SYSTEMS, INC., a Delaware )
corporation, >>
Plaintiff, 1
>
V. > C.A. No. 17089
JACK W. SCHULER, JOHN PATIENCE, )
R. JAMES DANEHY, EDWARD GILES, )
THOMAS M. GROGAN, M.D., JAMES )
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., )
a Delaware corporation, MARQUETTE )
VENTURE PARTNERS, L.P., a Delaware )
limited partnership, MARQUETTE >
VENTURE PARTNERS II, L.P., a >
Delaware limited partnership and MVP II )
AFFILIATES FUND, L.P., a Delaware )
limited partnership, >
>
Defendants. >
PLAINTIFFS' ANSWERING BRIEF IN OPPOSITION
TO VENTANA DEFENDANTS' MOTION TO STAY
SMITH, KATZENSTEIN & FURLOW LLP
Craig B. Smith
David A. Jenkins
Michele C. Gott
800 Delaware Avenue
Post Office Box 410
Wilmington, DE 19899
(302) 652-8400
August 3 1,1999 Attorneys for Plaintiff
Document #: 105409-l
99043
OF C0NTElYC.S
SNIPPETS:
|
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11
.
PLAINTIFFS ANSWERING BRIEF IN OPPOSITION TO THE VENTAT DEFENDANTS MOTION TO DISMISS
|
EXTRACTED KEY WORDS
SUPR PARTNERS VENTANA DELAWARE MEDICAL SYSTEMS LEUNG PLAINTIFF CHANDLER SUPP SANTA MERGER INSIDERS BOARD MEETING DERIVATIVE CLAIMS BUSINESS JUDGMENT KAHN HARTNETT COURT COUNTY JOHN JAMES VENTURE AUTHORITIES NOTEHOLDERS SALE PROPER EXERCISE BREACH CONTRACT |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on )
behalf of all others similarly situated, and )
derivatively on behalf of VENTANA >
MEDICAL SYSTEMS, INC., a Delaware )
corporation, >
>
Plaintiff, >>
V. > C.A. No. 17089
JACK W. SCHIJLER, JOHN PATIENCE, )
R. JAMES DANEHY, EDWARD GILES, )
THOMAS M. GROGAN, M.D., JAMES )
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., )
a Delaware corporation, MARQUETTE )
VENTURE PARTNERS, L.P., a Delaware )
limited partnership, MARQUETTE >
VENTURE PARTNERS II, L.P., a >
Delaware limited partnership and MVP II )
AFFILIATES FUND, L.P., a Delaware )
limited partnership, >
>
Defendants, >
PILAINTIFFS' ANSWERING BRIEF IN lOPPOSITION
TO THE VENTANA DEFENDANTS' MOTlON TO DISMISS
SMITH, KATZENSTEIN & FURLOW LLP
Craig B. Smith
David A. Jenkins
Michele C. Gott
800 Delaware Avenue
P.O. Box 410
Wilmington, DE 19899
August 3 1, 1999 (302) 652-8400
Attorneys for Plaintiff
Document #: 105399-1
99043
TABLE OF CONTENTS
SNIPPETS:
|
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12
.
VENTANA DEFENDANTS OPENING BRIEF IN SUPPORT OF THEIR ALTERNATIVE MOTION TO STAY
|
EXTRACTED KEY WORDS
LEUNG COURT DEFENDANTS DELAWARE FACTS FEDERAL ACTION CHANCERY PATIENCE PLAINTIFFS SCHULER MOTION RAJU AFF SLIP LEUNG COMPLAINT MARQUETTE VENTURE BIOTEK NOTEHOLDERS SIMILARLY-SITUATED DEFENDANTS COMPENSATION PACKAGE DISTRICT COURT COMMON STOCK SUBSTANTIALLV DIRECTORS DISCOVERY MCWANE DOCTRINE JOHN PATIENCE LIMITED PARTNERSHIP MVP AFFILIATES FUND ALTERNATIVE MOTION |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf )
of al 1 others similarly situated, and derivatively )
on behalf of VENTANA MEDICAL >
SYSTEMS, INC., a Delaware corporation, >>
Plaintiff, 1>) C.A. No. 17089
>
JACK W. SCHULER, JOHN PATIENCE, R. )
JAMES DANEHY, EDWARD GILES, >
THOMAS M. GROGAN, M.D., JAMES 1
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., )
a Delaware corporation, MARQUETTE >
VENTURE PARTNERS, L.P., a Delaware )
limited partnership, MARQUETTE VENTURE )
PARTNERS II, L.P., a Delaware limited >
partnership and MVP II AFFILIATES FUND, )
L.P., a Delaware limited partnership, >>
Defendants. >
VENTANA DEFENDANTS' OPENING BRIEF
IN SUPPORT OF THEIR ALTERNATIVE MOTION TO STAY
OF COUNSEL:
Jesse A. Finkelstein
Steven M. Schatz Raymond J. DiCamillo
Elizabeth M. Saunders Richards, Layton & Finger
h4ichele E. Rose One Rodney Square
VVilson Sonsini Goodrich & Rosati P.O. Box 551
650 Page Mill Road Wilmington, Delaware 19899
Palo Alto, California 94304- 1050 (302) 658-6541
(650) 493-9300 Attorneys for Defendants Jack W.
Schuler, John Patience, R. James
Danehy, Edward Giles, Thomas M.
Grogan, James M. Strickland, James
Weersing and Ventana Medical
Dated: July 15, 1999 Systems, Inc.
RLFI-2033574-I
TABLE OF CONTENTS
SNIPPETS:
|
|
13
.
VENTANA DEFENDANTS OPENING BRIEF IN SUPPORT OF THEIR MOTION TO DISMISS
|
EXTRACTED KEY WORDS
DEFENDANTS PLAINTIFF COURT DEL FACTS SCHULER PATIENCE DELAWARE STOCK BIOTEK SUPR FIDUCIARY DUTY COMPENSATION PACKAGE DIRECTORS DISMISS SHAREHOLDERS BUSINESS JUDGMENT BIOTEK NOTEHOLDERS DISCLOSURE PLAINTIFF FAILS NELSON LEUNG NOTE EXCHANGE AGREEMENT FAIR MARKET COMMON STOCK ACQUISITION STOCKHOLDERS JOHN PATIENCE TRANSACTION SHAREHOLDER LITIG |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on behalf )
of all others similarly situated, and derivatively )
on behalf of VENTANA MEDICAL >
SYSTEMS, INC., a Delaware corporation, )
>
Plaintiff, >
V. ) C.A. No. 17089
>
JACK W. SCHULER, JOHN PATIENCE, R. )
JAMES DANEHY, EDWARD GILES, >
THOMAS M. GROGAN, M.D., JAMES >
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., )
a Delaware corporation, MARQUETTE >
VENTURE PARTNERS, L.P., a Delaware )
limited partnership, MARQUETTE VENTURE )
PARTNERS 11, L.P., a Delaware limited >
partnership and MVP II AFFILIATES FUND, )
L.P., a Delaware limited partnership, >>
Defendants. >
VENTANA DEFENDANTS' OPENING BRIEF
IN SUPPORT OF THEIR MOTION TO DISMISS
OF COUNSEL:
Jesse A. Finkelstein
Steven M. Schatz Raymond J. DiCamillo
Elizabeth M. Saunders Richards, Layton & Finger
Michele E. Rose One Rodney Square
Wilson Sonsini Goodrich & Rosati P.O. Box 551
650 Page Mill Road Wilmington, Delaware 19899
P,alo Alto, California 94304-1050 (302) 658-6541
(650) 493-9300 Attorneys for Defendants Jack W.
Schuler, John Patience, R. James
Danehy, Edward Giles, Thomas M.
Grogan, James M. Strickland, James
Weersing and Ventana Medical
Dated: July 15, 1999 Systems, Inc.
l
SNIPPETS:
|
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14
.
CLASS ACTION COMPLAINT
|
EXTRACTED KEY WORDS
VENTANA DEFENDANTS BIOTEK INVESTOR HOLDERS MERGER PLAINTIFF INSIDERS LEUNG COURT DELAWARE SALE SCHULER CLASS ACTION VENTANA EXCHANGE NOTES FAIR MARKET STOCKHOLDERS VENTANA MEDICAL SYSTEMS CLASS MEMBERS JAMES DANEHY AGREEMENT MERGER APPROVAL DOCUMENTS MARQUETTE VENTURE PARTNERS FIDUCIARY DUTY ACCORDING MATERIAL INFORMATION DETERMINATION JAMES WEERSING COMPLAINT PROPOSED INSIDERS |
!'
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
NELSON LEUNG, individually and on )
behalf of all others similarly situated, and )
derivately on behalf of VENTANA 1
MEDICAL SYSTEMS, INC., a Delaware )
corporation, >)
Plaintiff, 1
V. ; C.A. No. \-By
>
JACK W. SCHULER, JOHN PATIENCE, )
R. JAMES DANEHY, EDWARD GILES, )
THOMAS M. GROGAN, M.D., JAMES ) 1
M. STRICKLAND, JAMES WEERSING, )
VENTANA MEDICAL SYSTEMS, INC., ) . .-
a Delaware corporation, MARQUETTE ) - -/
VENTURE PARTNERS, L.P., a Delaware ) ,-.
limited partnership, MARQUETTE > :,._, --
-2'; _,_-
VENTURE PARTNERS II, L.P., a > -.
Delaware limited partnership and MVP II )
AFFILIATES FUND, L.P., a Delaware )
limited partnership 11
Defendants. )
CLASS ACTION AND DERIVATIVE COMPLAINT
A. The Parties
1. Plaintiff Nelson Leung is a resident of California. Mr. Leung is, and
has been since March 26, 1996, a holder of common stock of defendant Ventana Medical
Systems, Inc. In addition, at all relevant times, Mr. Leung was a holder of BioTek Investor
Notes (as defined below).
2. Defendant Ventana Medical Systems, Inc. is a Delaware corporation
with its headquarters in Tucson, Arizona. Ventana develops, manufactures and markets
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