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1
.
PLAINTIFFS REPLY BRIEF IN SUPPORT OF MOTION FOR CLASS CERTIFICATION
|
EXTRACTED KEY WORDS
DEFENDANTS COURT PRE-MERGER TRANSACTIONS STOCKHOLDERS MOTION CLASS CERTIFICATION WRONGDOING CONNECTION DEL CHANCERY DELAWARE OLIVER PRELIMINARY STATEMENT MERGER SUPPORT FIDUCIARY DUTY ASHMAN THOMAS GRIFFIN SARA OPPOSITION SECOND AMENDED COMPLAINT GAYLORD CONTAINER SERAGEN COMMON VOTING POWER STOCK DILUTION BOSTON UNIVERSITY COUNSEL ALLEGATIONS CLASS PERIOD MINORITY STOCKHOLDERS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, et al.,
Plaintiffs,
V.
BOSTON UNIVERSITY, et al.,
Defendants. 4
)
PLAINTIFFS' REPLY BRIEF IN SUPPORT OF
PLAINTIFFS' MOTION FOR CLASS CERTIFICATION
MORRIS, JAMES, HITCHENS &WILLIAMS LLP
Michael J. Maimone
222 Delaware Avenue
P.O. Box 2306
Wilmington, Delaware 19899-2306
(302) 888-6800
Attorneys for Plaintiffs
OF COUNSEL:
Kenneth J. Ashman
Thomas G. Griffin
Sara L. Spitler
ASHMAN&GRIFFIN,LLC
656 West Randolph Street, Fifth Floor
Chicago, Illinois 60661
(312) 648-1700
Dated: February 5,200l
TABLE OF CONTENTS
SNIPPETS:
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2
.
ANSWERING BRIEF OF ALL DEFENDANTS IN OPPOSITION TO PLAINTIFFS MOTION FOR CLASS CERTIFICATION
|
EXTRACTED KEY WORDS
DEFENDANTS MERGER CERTIFICATION MOTION PROPOSED CLASS COMMON DELAWARE SAC MEMBERS DEL STOCKHOLDERS MTC TRANSACTIONS COMMON STOCK SHAREHOLDERS COURT BOSTON UNIVERSITY OPPOSITION PRE-MERGER SHAREHOLDERS EMERALD PARTNERS SUBSECTION COMMON QUESTIONS FIDUCIARY DUTY INSIDER DEFENDANTS CLASS PERIOD ADEQUATELY PROTECT NOTTINGHAM CALIFORNIA CERTIFYING CLASS |
THE COIJRT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY 72
SERGIO M. OLIVER, et al.,
Plaintiffs,
V.
BOSTON UNIVERSITY, et al.,
Defendants.
ANSWERING WRIIEF OF ALL DEFENDANTS IN OPPOSITION TO
PLAINTIIFFS' MOTION FOR CLASS CERTIFICATION
MORRIS, NICHOLS, ARSHT &
TUNNELL
OF COUNSEL: William 0. LaMotte, III
MINTZ, LEVIN, COHN, FECRRIS, 1201 N. Market Street
GLOVSKY AND POPEO, P.C. P.O. Box 1347
R. Robert Popeo Wilmington, DE 19899
John F. Sylvia (302) 658-9200
One Financial Center Attorneys for Defendants
Boston, Massachusetts 021 I 1 Boston University, John R. Silber, Leon C.
(617) 542-6000 Hirsch, Turi Josefsen, Gerald S.J. Cassidy,
Kenneth G. Condon, and Marathon
Biopharmaceuticals
POTTER ANDERSON & CORROON
LLP
OF COUNSEL: Donald J. Wolfe, Jr.
BROBECK, PHLEGER & HARRISON Arthur L. Dent
LLP Hercules Plaza
William F. Sullivan 13 13 N. Market Street
Christopher H. McGrath P.O. Box 95 1
550 West "C" Street, Suite 1300 Wilmington, DE 19899
San Diego, California 92101-3532 (302) 984-6000
Attorneys for Defendants
Reed R. Prior, Norman A. Jacobs and Jean
C. Nichols
January 8,200l
450618
SNIPPETS:
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3
.
ANSWER OF THE BU DEFENDANTS
|
EXTRACTED KEY WORDS
PARAGRAPH DEFENDANTS COMPLAINT RESPONSE COURT EXTENT PARAGRAPH PERTAINS DENY PLAINTIFFS DEFENDANTS PERTAINING ALLEGATIONS ARC HIRSCH CLASS ACTION MARATHON LAW BIJ PREFERRED STOCK FIDUCIARY DUTY DEFENDANTS ADMIT INFORMATION SUFFICIENT ACCORDINGLY DENY PROXY STATEMENT CHANCERY RULES ALLEGATIONS ARC DCNICD AGREEMENT REFERENCE TIME LIMITATION SERAGEN RECORD DISCLOSURE |
l"J THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN' AND FOR NEW CASTLE COUNTY
-----
SERGIO ?A. OLIVER, et al..
Plaimiffs, I
\J. I C. A. No. 16570NC
BOSTON UNIVERSITY, et al., :
Defendants.
i$NS\YER OF THE BU DEFENDANTS
Defendants Boston IUnivcrsity, John Ii. Silber, Leon C. Hirsch, Turi Joscfsen, Gc-ald S.J.
Cassidy, Kenneth G. Condon, and Marathon Phanaccuticals, Inc. (collectively, the "BIJ
Defcndatms") hereby answer and respond to Plaintiffs' Second Amended Verified Class Action
Complaint (the "Comphrint") as follows:'
1. Paragraph 1 of the Complaint states conclusions of law to which no response is
i-equircd, and also pertains in whole or in part to claims that have been dismissed by the Court.
and therefore to which no response is required. To the extent Paragraph 1 of the Complaint may
be read to make allegations of fact against some or all of the BU Defendants pertaining to claims
that have not been dismissed by the Court, those allegations arc dcnicd. The BU Defendants also
deny ihat this action has been brought or may properly be maintained as a class action pursuant
The plaintiffs' Complaint contains a number of allegations that relate solely to cla ms that
were dismissed by the Court in its Memorandum and Opinion as rcviscd July .25, 2000, and
therefore to which no response is required. In addition, the Complaint contains a number of
allegations that arguably relate both to claims that have been dismissed by the Court and to
claims that remain in the case. With respect to those allegations, the rcspoxes of the BIJ
Defendants~ set forth hcrcin should be read to apply only to those claims that still remain in
the cast.
SNIPPETS:
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4
.
MEMORANDUM OPINION (REVISED)
|
EXTRACTED KEY WORDS
INSIDER DEFENDANTS MARATHON DELAWARE MERGER LIGAND COURT DEL DUTY CASSIDY STOCK OPINION COUNSEL HIRSCH FIDUCIARY DUTIES SHAREHOLDERS STOCKHOLDERS DISCLOSURE COMMON STOCK PROXY STATEMENT FRAUD CLAIM TRANSACTION PLAINTIFFS ARGUE BOSTON UNIVERSITY TECHNOLOGY CLASS ACTION ALLEGATIONS SELF-DEALING OLIVER WILMINGTON |
r* p" f p r 7 " p fj
1,w i. `t, , \ 1, I `L
IN THE COURT OF CHANCERY OF THE STATE OF D:ELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER, )
EMILY OLIVER, GREGORY 0. GRUSE, )
ANN 0. GRUSE, WILLIAM M >
STERRETT, BLACKSBURG TRANSFER )
& STORAGE, INC., DAVID MCDANIEL, )
WALLACE L. HUFF, DANIEL R >
CANADA, WILLIAM J. CUDMORE, )
DORBIN BAILEY, JOHN F. BOLAND, )
PHILIP FLARSHEIM, SIMONE POULAN,)
LUCY THOMPSON, JOHN & LORRAINE)
MORTIMER, JENNIFER L. JANELLE, )
RON & SUSAN ESTES, DR. GARY >
WAKE, and FIRST UNION NATIONAL )
BANK, FOR THE ESTATE OF MARY )
ELLEN DOBBINS, individually and on )
behalf of all others similarly situated, >>
Plaintiffs, >>
V. > C.A. No. 16570
>
BOSTON UNIVERSITY, JOHN R.
SILBER, LEON C. HIRSCH, TURI i
JOSEFSEN, REED R. PRIOR, GERALD )
S.J. CASSIDY, KENNETH G. CONDON, )
NORMAN A. JACOBS, JEAN C. >
NICHOLS, SERAGEN, INC., SERAGEN )
TECHNOLOGY, INC., MARATHON )
BIOPHARMACEUTICALS, LLC, >
LIGAND PHARMACEUTICALS, INC., )
and KNIGHT ACQUISITION CORP., )
>
Defendants. >
Submitted: April lo,2000
Decided: July 18, 2000
Revised: July 25, 2000
MEMORANDUM OPINION
Michael J. Maimone and Joseph C. Schoell of Morris, James, Hitchens &
Williams, Wilmington, Delaware. OF COUNSEL: Kenneth1 J. Ashman of
Ashman & Griffin, New York, New York; Thomas G. Griffin of Ashman &
Griffin, Chicago, Illinois. Attorneys for Plaintiffs.
SNIPPETS:
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5
.
MEMORANDUM OPINION
|
EXTRACTED KEY WORDS
DEFENDANTS LIGAND DELAWARE MERGER INSIDER DEFENDANTS COURT CASSIDY DEL DUTY STOCK OPINION COUNSEL HIRSCH FIDUCIARY DUTIES SHAREHOLDERS STOCKHOLDERS COMMON STOCK DISCLOSURE PROXY STATEMENT TRANSACTION PLAINTIFFS ARGUE MASSACHUSETTS CLASS ACTION ALLEGATIONS SELF-DEALING OLIVER LIGAND PHARMACEUTICALS WILMINGTON MISREPRESENTATIONS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER, )
EMILY OLIVER, GREGORY 0. GRUSE, )
ANN O. GRUSE, WILLIAM M >
STERRETT, BLACKSBURG TRANSFER )
& STORAGE, INC., DAVID MCDANIEL, )
WALLACE L. HUFF, DANIEL R >
CANADA, WILLIAM J. CUDMORE, )
DORBIN BAILEY, JOHN F. BOLAND, )
PHILIP FLARSHEIM, SIMONE POULAN,)
LUCY THOMPSON, JOHN & LORRAINE)
MORTIMER, JENNIFER L. JANELLE, )
RON & SUSAN ESTES, DR. GARY >
WAKE, and FIRST UNION NATIONAL ) _`. _
I `.
BANK, FOR THE ESTATE OF MARY )
ELLEN DOBBINS, individually and on )
behalf of all others similarly situated, >>
Plaintiffs, >
>
V. > C.A. No. 16570
>
BOSTON UNIVERSITY, JOHN R. >
SILBER, LEON C. HIRSCH, TURI >
JOSEFSEN, REED R. PRIOR, GERALD )
S.J. CASSIDY, KENNETH G. CONDON, )
NORMAN A. JACOBS, JEAN C. >
NICHOLS, SERAGEN, INC., SERAGEN )
TECHNOLOGY, INC., MARATHON )
BIOPHARMACEUTICALS, LLC, >
LIGAND PHARMACEUTICALS, INC., )
and KNIGHT ACQUISITION CORP., )>
Defendants. >
Submitted: April lo,2000
Decided: July 18, 2000
MEMORANDUM OPINION
Michael J. Maimone and Joseph C. Schoell of Morris, James, Hitchens &
Williams, Wilmington, Delaware. OF COUNSEL: Kenneth J. Ashman of
Ashrnan & Griffin, New York, New York; Thomas G. Griffin of Ashman &
Griffin, Chicago, Illinois. Attorneys for Plaintiffs.
William 0. LaMotte, III of Morris, Nichols, Arsht & Tunnell, Wilmington,
SNIPPETS:
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6
.
REPLY BRIEF IN FURTHER SUPPORT OF BU-SERAGEN DEFENDANTS MOTION TO DISMISS SECONDED AMENDED VERIFIED COMPLAINT
|
EXTRACTED KEY WORDS
TRANSACTIONS MARATHON SHAREHOLDERS DILUTION BU-SERAGEN DEFENDANTS CASH COMPLAINT VOTING POWER PRE-MERGER USSC COURT DELAWARE FAILS DISMISS SPECIAL INJURY MINORITY SHAREHOLDERS DISCLOSURE CLAIMS ROBERT POPEO JOHN MASSACHUSETTS POST-MERGER PROXY STATEMENT AGREEMENT LEVIN COHN FERRIS GLOVSKY MATTER LAW ALLEGED INVALIDITY |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE!
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, et al.,
Plaintiffs, i
v. i C. A. No. 16570NC
BOSTON UNIVERSITY, et al., i
Defendants.
REPLY BRIEF IN FURTHER SUPPORT OF BU-SERAGEN DEFENDANTS'
MOTION TO DISMISS THE SECOND AMENDED VERIFIED COMPLAINT
MORRIS, NICHOLS, ARSHT & TUNNELL
William 0. LaMotte, III
1201 N. Market Street
P.O. Box 1347
Wilmington, Delaware 19899
(302) 658-9200
Attorneys for Defendants Boston
University, John R. Silber, Leon C.
Hirsch, Turi Josefsen, Gerald S. J.
Cassidy, Kenneth G. Condon and
Marathon Biopharmaceuticals, LLP
OF COUNSEL:
MINTZ, LEVIN, COHN, FERRIS,
GLOVSKY AND POPEO, P.C
R. Robert Popeo
John F. Sylvia
One Financial Center
Boston, Massachusetts 02111
(617) 542-6000
December 22, 1999
1.
SNIPPETS:
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7
.
REPLY BRIEF IN SUPPORT OF DEFENDANTS MOTIONS TO DISMISS BY DEFENDANTS SERAGEN INC. SERAGEN TECHNOLOGY R. PRIOR N. JACOBS AND J. NICHOLS
|
EXTRACTED KEY WORDS
DEFENDANTS PLAINTIFFS LIGAND FIDUCIARY DUTY COURT PRIOR PROXY AGREEMENT DERIVATIVE CLAIMS JACOBS DEL SUPPORT NICHOLS SHAREHOLDERS TRANSACTIONS DISCLOSURE VIOLATION SAC ALLEGATIONS ACCORD AGREEMENT STOCKHOLDERS USSC INSIDER DEFENDANTS LEXIS NEGOTIATIONS MATERIAL INFORMATION SERAGEN TECHNOLOGY ALLOCATION SPECIAL INJURY SELF-DEALING TRANSACTIONS |
THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER,
EMILY OLIVER, GREGORY 0. GRUSE,
ANN 0. GRUSE. WILLIAM M. STERRETT.
BLACKSBURG T RANSFER 8~ STORAGE, ' j
INC., DAVID MCDANIEL, WALLACE L.
HUFF, DANIEL R. CANADA, WILLIAM J. I
CUDMORE, CORBIN BAILEY, JOHN F.
BOLAND. PHILIP FLARSHEIM. SIMONE i
POULAN: LUCY THOMPSON. JOHN &
LORRAINE MORTIMER, JENNIFER L. j
JANELLE, RON & SUSAN ESTES,
DR. GARY WAKE, and FIRST UNION j C.A. No. 16570-NC
NATIONAL BANK, FOR THE ESTATE OF
MARY ELLEN DOBBINS, individually and on j
behalf of all others similarly situated,
Plaintiffs, I
v. i
BOSTON UNIVERSITY. JOHN R. SILBER. !
LEON C. HIRSCH, TURi JOSEFSEN, REED
R. PRIOR, GERALD S.J. CASSIDY, i
KENNETH G. CONDON, NORMAN A.
JACOBS, JEAN C. NICHOLS, SERAGEN, i
INC.. SERAGEN TECHNOLOGY, INC.,
MARATHON BIOPHARMACEUTICALS, !
LLC, LIGAND PHARMACEUTICALS, INC.,
and KNIGHT ACQUISITION CORP., i
Defendants jj
REPLY BRIEF IN SUPPORT OF DEFENDANTS' MOTIONS TO DISMISS BY
DEFENDANTS SERAGEN, INC., SERAGEN TECHNOLOGY, INC., REED R.
PRIOR, NORMAN A. JACOBS AND JEAN C. NICHOLS
OF COUNSEL: Donald J. Wolfe, Jr.
Arthur L. Dent
William F. Sullivan (#78353) POTTER ANDERSON & CORROON LLP
Christopher H. McGrath (#149129) Hercules Plaza
Sean T. Prosser (#163903) 13 13 North Market Street
BROBECK, PHLEGER & HARRISON LLP P.O. Box 951
550 West "C" Street, Suite 1300 Wilmington, Delaware 19899
San Diego, Califorma 92101-3532 (302) 984-6000
(619) 234-1966 Attorneys for Defendants
Seragen, Inc., Seragen Technology, Inc., Reed
Dated: December 22, 1999 R. Prior, Norman A. Jacobs, Jean C. Nichols
SNIPPETS:
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8
.
REPLY BRIEF IN SUPPORT OF MOTION TO DISMISS PLAINTIFFS SECOND AMENDED VERIFIED COMPLAINT BY DEFENDANTS LIGAND PHARMACEUTICALS AND KNIGHT ACQUISITION
|
EXTRACTED KEY WORDS
LIGAND KNIGHT NATIONALS COURT DEFENDANTS DELAWARE DEL ACQUISITION DISMISS FRAUD CLAIMS SUPPORT JACKSON NATIONALS ACCORD AGREEMENT FACTS MOTION CLASS ACTION TRANSACTIONS ALLEGATIONS FIDUCIARY DUTY ALLEGED BREACHES SHAREHOLDERS ABETTING CLAIMS KNOWING PARTICIPATION NEGLIGENT MISREPRESENTATION OBLIGATIONS OLIVER LLC LIGAND PHARMACEUTICALS AMENDED VERIFIED COMPLAINT |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER,
EMILY OLIVER, GREGORY 0. GRUSE,
ANN 0. GRUSE. WILLIAM M. STERRETT.
BLACKSBURG TRANSFER & STORAGE, '
INC., DAVID MCDANIEL, WALLACE L.
HUFF, DANIEL R. CANADA, WILLIAM J.
CUDMORE. CORBIN BAILEY. JOHN F.
BOLAND. PHILIP FLARSHEIM. SIMONE
POULAN, LUCY THOMPSON, JOHN &
LORRAINE MORTIMER, JENNIFER L.
JANELLE, RON & SUSAN ESTES, CA. No. 16570-NC
DR. GARY WAKE, and FIRST UNION
NATIONAL BANK, FOR THE ESTATE OF
MARY ELLEN DOBBINS, individually and on
behalf of all others similarly situated,
Plaintiffs,
v.
BOSTON UNIVERSITY, JOHN R. SILBER,
LEON C. HIRSCH, TURl JOSEFSEN, REED
R. PRIOR, GERALD S.J. CASSIDY,
KENNETH G. CONDON, NORMAN A.
JACOBS, JEAN C. NICHOLS, SERAGEN,
INC., SERAGEN TECHNOLOGY, INC.,
MARATHON BIOPHARACEUTICALS, LLC,
LIGAND PHARMACEUTICALS, INC., and
KNIGHT ACQUISITION CORP.,
Defendants.
REPLY BRIEF IN SUPPORT OF MOTION TO DISMISS PLAINTIFFS'
SECOND AMENDED VERIFIED COMPLAINT BY DEFENDANTS
LIGAND PHARMACEUTICALS INCORPORATED
AND KNIGHT ACQUISITION CORP.
OF COUNSEL: Donald J. Wolfe, Jr.
William F. Sullivan Arthur L. Dent
Christopher H. McGrath POTTER ANDERSON & CORROON LLP
Sean T. Presser Hercules Plaza
BROBECK, PHLEGER & HARRISON LLP 1313 North Market Street
550 West "C" Street, Suite 1300 P.O. Box 951
San Diego, California 92101-3532 Wilmington, Delaware 19899
(619) 234-1966 (302) 984-6000
SNIPPETS:
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9
.
PLAINTIFFS BRIEF IN OPPOSITION TO DEFENDANTS MOTION TO DISMISS RELATING TO ALL ISSUES OTHER THAN BREACHES OF FIDUCIARY DUTY
|
EXTRACTED KEY WORDS
LIGAND MARATHON HIRSCH DEFENDANTS KNIGHT DEL ACCORD AGREEMENT COURT DELAWARE SAC OLIVER MERGER FIDUCIARY DUTY PERSONAL JURISDICTION INDIVIDUAL1 STOCK INSIDER DEFENDANTS UNJUST ENRICHMENT CLASS ACTION TRANSACTION PLAINTIFFS STATE ALLEGATIONS STOCKHOLDERS PARTICIPATION ABETTING CLAIM REPRESENTATIONS PROXY STATEMENT COMPANION CONSTRUCTIVE TRUST |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER,
EMILY OLIVER, GREGORY 0. GRUSE,
A N N 0 . G R U S E , W I L L I A M M .
STERRETT, BLACKSBURGTRANSFER&
STORAGE, INC., DAVID MCDANIEL,
W A L L A C E L . H U F F , D A N I E L R .
C A N A D A , W I L L I A M J . CUDMORE,
CORBIN BAILEY, JOHN F. BOLAND,
PHILIP FLARSHEIM, SIMONE POULAN,
LUCY THOMPSON, JOHN & LORRAINE C. A. No. 16570NC
MORTIMER, JENNIFER L. JANELLE,
RON & SUSANESTES, DR. GARY WAKE,
and FIRST UNION NATIONAL BANK,
FOR THE ESTATE OF MARY ELLEN
DOBBINS, individual1 and on behalf of all
others similarly situateCT,
Plaintiffs,
V.
BOSTONUNIVERSITY, JOHNR. SILBER,
LEON C. HIRSCH, TURI JOSEFSEN,
REED R. PRIOR, GERALD S.J. CASSIDY,
KENNETH G. CONDON, NORMAN A.
JACOBS, JEAN C. NICHOLS, SERAGEN,
INC., SERAGEN TECHNOLOGY, INC.,
MARATHON BIOPHARACEUTICALS,
LLC, LIGAND PHARMACEUTICALS,
INC.. and KNIGHT ACQUISITION CORP.,
Defendants.
PLAINTIFFS' BRIEF IN OPPOSITION TO DEFENDANTS'
MOTIONS TO DISMISS RELATING TO ALL ISSUES
OTHER THAN BREACHES OF FIDUCIARY DUTY
OF COUNSEL: MORRIS, JAMES, HITCHENS &WILLIAMS, LLP
Michael J. Maimone
ASHMAN & G-FIN Joseph C. Schoell
Kenneth J. Ashman 222 Delaware Avenue
60 East 42"d Street, 47* Floor P.O. Box 2306
New York, New York 10 165 Wilmington, Delaware 19899-2306
(2 12) 557-9555 (302) 888-6800
Attorneys for Plaintiffs
ASHMAN & GRIFFIN
Thomas G. Griffin
10 South LaSalle Street, Suite 3600
Chicago, Illinois 60603
(3 12) 460-8230
SNIPPETS:
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10
.
PLAINTIFFS BRIEF IN OPPOSITION TO DEFENDANTS MOTIONS TO DISMISS
|
EXTRACTED KEY WORDS
PLAINTIFFS HIRSCH LIGAND TRANSACTION COMMON STOCK INSIDER DEFENDANTS AGREEMENT MERGER CASSIDY PRIOR STOCKHOLDERS CONDON NICHOLS KNIGHT SHARES PROXY STATEMENT SAC PREFERRED STOCK USSC MINORITY STOCKHOLDERS SELF-DEALING TRANSACTIONS ACQUISITION CONTROLLING STOCKHOLDER OPERATING DIVISION ACCORD AGREEMENT FIDUCIARY DUTIES SHAREHOLDERS AFFILIATES VOTING POWER |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE '
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER,
EMILY OLIVER, GREGORY 0. GRUSE, ANN
0 . G R U S E , WILLIAM M . S T E R R E T T ,
BLACKSBURG TRANSFER & STORAGE,
INC., DAVID MCDANIEL, WALLACE L.
HUFF, DANIEL R. CANADA, WILLIAM 5.
CUDMORE, CORBIN BAILEY, JOHN F.
BOLAND, PHILIP FLARSHEIM, SIMONE i
POULAN, LUCY THOMPSON, JOHN & >
LORRAINE MORTIMER, JENNIFER L. ) C. A. No. 16570NC
JANELLE, RON & SUSAN ESTES, DR. GARY
WAKE, and FIRST UNION NATIONAL BANK,
FOR THE ESTATE OF MARY ELLEN
DOBBINS, individually and on behalf of all others
similarly situated,
Plaintiffs,
V.
BOSTON UNIVERSITY, JOHN R. SILBER, i
LEON C. HIRSCH, TURI JOSEFSEN, REED R.
PRIOR, GERALD S. J. CASSIDY, KENNETH G.
CONDON, NORMAN A. JACOBS, JEAN C.
NICHOLS, SERAGEN, INC., SERAGEN >
T E C H N O L O G Y , I N C . , M A R A T H O N
BIOPHARACEUTICALS, LLC, LIGAND
PHARMACEUTICALS, INC., and KNIGHT
ACQUISITION CORP.,
Defendants
PLAINTIFFS' BRIEF IN OPPOSITION
TO DEFENDANTS' MOTIONS TO DISMISS
OFCOUNSEL: MORRIS, Jfi~s, HITCHENS &WILLIAMS, LLP
Michael J. Maimone
ASEIMAN & GRIFFIN Joseph C. Schoell
Kenneth J. Ashman 222 Delaware Avenue
60 East 42"d Street, 47'" Floor P.O. Box 2306
New York, New York 10 165 Wilmington, Delaware 19899-2306
(212) 557-9.555 (302) 888-6800
Attorneys for Plaintiffs
ASIXMAN & GRIFFIN
Thomas G. Griffin
10 South LaSalle Street, Suite 3600
Chicago, Illinois 60603
SNIPPETS:
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11
.
OPENING BRIEF IN SUPPORT OF MOTION TO DISMISS PLAINTIFFS 2ND AMENDED VERIF. COMPLAINT BY DEFENDANTS LIGAND PHARMACEUTICALS & KNIGHT ACQUISITION
|
EXTRACTED KEY WORDS
LIGAND DEFENDANTS KNIGHT DEL DELAWARE MOTION DISMISS COURT SUPPORT COMPLAINT FRAUD FIDUCIARY DUTY FACTS SAC ALLEGATIONS PARTICIPATION KNIGHT ACQUISITION COMMON LAW FRAUD NEGLIGENT MISREPRESENTATION SHAREHOLDERS LITIG INSIDER DEFENDANTS ALLOCATION ATTORNEYS UNDERLYING INHERENTLY WRONGFUL CONCLUSORY ALLEGATIONS PARTICULARITY TRANSACTIONS DIRECTORS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER, )
EMILY OLIVER, GREGORY 0. GRUSE, )
ANN 0. GRUSE, WILLIAM M. STERRETT, )
BLACKSBURG TRANSFER & STORAGE, )
INC., DAVID MCDANIEL, WALLACE L. )
HUFF, DANIEL R. CANADA, WILLIAM J. )
CUDMORE, CORBIN BAILEY, JOHN F. )
BOLAND, PHILIP FLARSHEIM, SIMONE )
POULAN, LUCY THOMPSON, JOHN &
LORRAINE MORTIMER, JENNIFER L. j
JANELLE, RON & SUSAN ESTES, ) C.A. No. 16570-NC
DR. GARY WAKE, and FIRST UNION >
NATIONAL BANK, FOR THE ESTATE OF )
MARY ELLEN DOBBINS, individually and on )
behalf of all others similarly situated,
;
Plaintiffs, 1
BOSTON UNIVERSITY, JOHN R. SILBER, )
LEON c. HIRSCH, TURI JOSEFSEN, REED j
R. PRIOR, GERALD S.J. CASSIDY, >
KENNETH G. CONDON, NORMAN A.
JACOBS, JEAN C. NICHOLS, SERAGEN, j
INC., SERAGEN TECHNOLOGY, INC., >
MARATHON BIOPHARACEUTICAL.S, LLC, )
LIGAND PHARMACEUTICALS, INC., and )
KNIGHT ACQUISITION CORP., >
Defendants. 1
OPENING BRIEF IN SUPPORT OF MOTION TO DISMISS PLAINTIFFS'
SECOND AMENDED VERIFIED COMPLAINT BY DEFENDANTS
LIGAND PHARMACEUTICALS INCORPORATED
AND KNIGHT ACQUISITION CORP.
OF COUNSEL: Donald J. Wolfe, Jr.
William F. Sullivan (#78353) Arthur L. Dent
Christopher H. McGrath (#149 129) POTTER ANDERSON & CORROON LLP
Sean T. Prosser (#163903) Hercules Plaza
BROBECK, PHLEGER & HARRISON 13 13 North Market Street
LLP P.O. Box 951
550 West "C" Street, Suite 1300 Wilmington, Delaware 19899
San Diego, California 92 101-3532 (302) 984-6000
(619) 234-1966 Attorneys for Defendants
Dated: August 23, 1999 Ligand Pharmaceuticals Incorporated and
Knight Acquisition Corp.
SNIPPETS:
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12
.
SECOND AMENDED VERIFIED CLASS ACTION COMPLAINT
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EXTRACTED KEY WORDS
SILBER MERGER COMMON STOCK CASSIDY AGREEMENT TRANSACTION SHARES LIGAND PRIOR PROXY STATEMENT OLIVER SELF-DEALING TRANSACTIONS MINORITY SHAREHOLDERS PLAINTIFFS BOSTON UNIVERSITY CONDON STOCKHOLDERS BENEFICIAL OWNER PREFERRED STOCK ACCORD AGREEMENT TIMES RELEVANT ALLOCATION UNION NATIONAL BANK MERGER PROCEEDS AFFILIATES OPERATING DIVISION USSC CAPITAL STOCK NEGOTIATIONS |
IN THE COURT QF CHANCERY OF THE !XATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER, 1
EMILY OLIVER, GREGORY 0. GRUSE, 1
A N N 0 . G R U S E , WILL,IAM R/I. )
STERRETT, BLACKSBURG TRANSFER & >
STORAGE, INC., DAVID MCDANIEL, )
W A L L A C E L . H U F F , D A N I E L R . >
C A N A D A , W I L L I A M J. CUDMORE, )
CQRBIN BAILEY, JOHN F. BO&AND, >
PHILIP FLARSHEIM, SIMONE POULAN, )
LUCY THOMFSON, JOHN & LORRAINE > C. A. No. 14570NC
MORTIMER, JENNIFER L,. JANELLE, >
RON & SUSANESTES, DR. GARY WAKE, )
and FIRST UNION NATIONAL BANK, >
FOR THE ESTATE OF MARY ELLEN >
DOBBINS, individually and on behalf of all >
others similarly situated, >1
Plaintiffs, >>
V. >>
BOSTON UNIVERSITY, JOHN R. SILBER, >
LEON C. HlRSCH, TURI JOSEFSEN, >
REED R. PRIOR., GERALD SJ. CASSIDY, >
KENNETH G. CONDON, NORMAN A. >
JACOBS, JEAN C. NICHOLS, SERAGEN, >
INC. 4 SERAGEN TECHNOLOGY, INC., >
MARATHON BIOPHARACEUTICALS, >
LLC, LIGAND PHARMACEUTICALS, >
INC., and KNIGHT ACQUISITION CORP., >1
Defendants. 1
SECOND AMENDED VERIFIED CLASS ASTION COMPLAINT
Plaintiffs Sergio M. Oliver, Ronald Oliver, Emily Oliver, Gregory 0. G-ruse, Ann 0.
Gruse; William M. Sterrett, Blacksburg Transfer & Storage, Inc., David McDaniel,, Wallace L. Huff:
Daniel R. Canada, William J. Cudmore, Corbin Bailey, John F. Boland, Philip Flarsheim, Simone
Poulan, Lucy Thompson, John cs% Lorraine Mot-timer, Jennifer L. Janelle, Ron & Susan Estes, Dr.
Gary Wake and .First Union National Bank, for the Estate of Mary Ellen Dobbins, individually and
on behalf of all others similarly situated, make the following allegations upon personal knowledge
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MEMORANDUM OF LAW IN SUPPORT OF PLAINTIFFS MOTION FOR LEAVE TO FILE SECOND AMENDED VERIFIED COMPLAINT
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EXTRACTED KEY WORDS
AMENDED COMPLAINT DEFENDANTS PLAINTIFFS MOTION COURT ALLEGATIONS DEL FILING MERGER DISMISS FACTS AMEND DELAWARE OLIVER LAW LITIGANT RESOURCES PARNES PREJUDICE REQUEST SHAREHOLDERS STEELE GRIFFIN SUPPORT PLAINTIFFS RESPECTFULLY REQUEST ACTION COMPLAINT GRANT CHALLENGING PARTIES |
t;, ;?.'
2, * \ i :< _ _ 1. i :
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, et al.,
Plaintiffs,
V.
BOSTON UNIVERSITY, et al.,
Defendants.
MEMORANDUM OF LAW IN SUPPORT OF PLAINTIFFS'
MOTION FOR LEAVE TO FILE A SECOND AMENDED VERIF~D COMPLAINT
Plaintiffs Sergio M. Oliver, Ronald Oliver, Emily Oliver, Gregory 0. Gruse, Ann
Gruse, William M. Sterrett, Blacksburg Transfer & Storage, Inc., David McDaniel, Wallace L. Huff,
Daniel R. Canada, William J. Cudmore, Corbin Bailey, John F. Boland, Philip Flarsheim, Simone
Poulan, Lucy Thompson, John & Lorraine Mortimer, Jennifer L. Janelle, Ron & Susan Estes, Dr.
Gary Wake and First Union National Bank, for the Estate of Mary Ellen Dobbins, individually and
on behalf of all others similarly situated, (collectively, "Plaintiffs"), respectfully submit this
Memorandum of Law in Support of their Motion for Leave to File a Second Amended Verified Class
Action Complaint (the "Second Amended Complaint") pursuant to Delaware Chancery Rule 15(a)
("Rule 15(a)").
INTRODUCTION
In an effort to streamline the litigation and conserve both judicial and litigant
resources, Plaintiffs seek leave to file the Second Amended Complaint, which shall clarify
that defendants have complained need clarification, drop allegations likely not to state a claim and
establish that one of Plaintiffs' theories of the case parallels the facts and comports with the
the Delaware Supreme Court's recent decision in Parnes v. Bully Entertainment Corp., Del. Supr.,
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14
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BRIEF IN SUPPORT OF MOTION TO DISMISS
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EXTRACTED KEY WORDS
DEFENDANTS PROXY STATEMENT COMPLAINT MERGER INSIDER DEFENDANTS DUTY COURT ALLOCATION DISCLOSE OPINION COMMON STOCK MERGER PROCEEDS DISCLOSURE DEL FAIRNESS OPINION SHAREHOLDERS MISLEADING TRANSACTIONS SELF-DEALING STOCKHOLDERS PREFERRED STOCK MASSACHUSETTS PUBLIC OFFERING SUBSEQUENT ALLEGATIONS INADEQUATE FINANCIAL DISCLOSURES ROBERT POPEO JOHN FIDUCIARY DUTIES COMMON LAW FRAUD |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, et al., >>
Plaintiffs, >>
V. 1 C. A. No. 16570NC
BOSTON UNIVERSITY, et al.,
Defendants.
BRIEF IN SUPPORT OF CERTAIN DEFENDANTS'
MOTION TO DISMISS THE FIRST AMENDED VERIFIED COMPLAINT
MORRIS, NICHOLS, ARSHT & TUNNELL
William 0. LaMotte, III
Karen Jacobs Louden
1201 N. Market Street
P.O. Box 1347
Wilmington, Delaware 19899
(302) 658-9200
Attorneys for Defendants Boston
University, John R. Silber, Leon C.
Hirsch, Turi Josefsen, Gerald S. J.
Cassidy, Kenneth G. Condon and
Marathon Biopharmaceuticals, LLP
OF COUNSEL:
MINTZ, LEVIN, COHN, FERRIS,
GLOVSKY AND POPEO, P.C
R. Robert Popeo
John F. Sylvia
Patrick T. Clendenen
One Financial Center
Boston, Massachusetts 02111
(6 17) 542-6000
Dated: March 18, 1999
i.
TABLE OF CONTENTS
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BRIEF
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EXTRACTED KEY WORDS
LIGAND KNIGHT DEFENDANTS DEL DELAWARE COMPLAINT COURT DISMISS MOTION SUPPORT FRAUD MERGER KNIGHT ACQUISITION PRIOR FACTS FIDUCIARY DUTY ALLEGATIONS LIGAND PHARMACEUTICALS NORTH MARKET STREET SHAREHOLDERS CORROON LLP WILMINGTON COMMON LAW FRAUD MISREPRESENTATION KNOWING PARTICIPATION VERIFIED COMPLAINT SAN DIEGO CALIFORNIA PLEAD INDIVIDUAL RELIANCE |
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1%. I,' `,,,
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER, )
EMILY OLIVER, GREGORY 0. GRUSE, )
ANN 0. GRUSE, WILLIAM M. STERRETT, )
BLACKSBURG TRANSFER & STORAGE, )
INC., DAVID MCDANIEL, WALLACE L. )
HUFF, DANIEL R. CANADA, WILLIAM J. )
CUDMORE, CORBIN BAILEY, JOHN F. )
BOLAND, PHILIP FLARSHEIM, SIMONE )
POULAN, LUCY THOMPSON, JOHN & )
LORRAINE MORTIMER, JENNIFER L. 1
JANELLE, RON & SUSAN ESTES, ) C.A. No. 16570NC
DR. GARY WAKE, and FIRST UNION >
NATIONAL BANK, FOR THE ESTATE OF )
MARY ELLEN DOBBINS, individually and on )
behalf of all others similarly situated,
j
Plaintiffs,
i
V. >1
BOSTON UNIVERSITY, JOHN R. SILBER, )
LEON C. HIRSCH, TURI JOSEFSEN, REED )
R. PRIOR, GERALD S.J. CASSIDY,
KENNETH G. CONDON, NORMAN A. j :.
JACOBS, JEAN C. NICHOLS, SERAGEN, )
INC., SERAGEN TECHNOLOGY, INC., 1
MARATHON BIOPHARACEUTICALS, LLC, )
LIGAND PHARMACEUTICALS, INC., and )
KNIGHT ACQUISITION CORP.,
Defendants. j
OPENING BRIEF OF DEFENDANTS LIGAND PHARMACEUTICALS, INC.
AND KNIGHT ACQUISITION CORP. IN SUPPORT OF MOTION TO DISMISS
PLAINTIFFS' FIRST AMENDED VERIFIED COMPLAINT
Donald J. Wolfe, Jr.
Arthur L. Dent
OF COUNSEL: POTTER ANDERSON & CORROON LLP
William F. Sullivan Hercules Plaza
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BRIEF
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EXTRACTED KEY WORDS
DEFENDANTS COMPLAINT MERGER PRIOR COURT LIGAND JACOBS PROXY NICHOLS DEL DELAWARE AGREEMENT TRANSACTIONS TECHNOLOGIES SHAREHOLDERS COMMON STOCK ALLEGATIONS ALLOCATION MERGER CONSIDERATION DERIVATIVE CLAIMS INSIDER DEFENDANTS ACQUISITION MERGER PROCEEDS MINORITY STOCKHOLDERS PREFERRED STOCK DISCLOSURE LIGAND PHARMACEUTICALS KNIGHT ACQUISITION BUSINESS JUDGMENT |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SERGIO M. OLIVER, RONALD OLIVER, )
EMILY OLIVER, GREGORY 0. GRUSE, )
ANN 0. GRUSE, WILLIAM M. STERRETT, )
BLACKSBURG TRANSFER & STORAGE, )
INC., DAVID MCDANIEL, WALLACE L. )
HUFF, DANIEL R. CANADA, WILLIAM J. )
CUDMORE, CORBIN BAILEY, JOHN F. )
BOLAND, PHILIP FLARSHEIM, SIMONE )
POULAN, LUCY THOMPSON, JOHN & )
LORRAINE MORTIMER, JENNIFER L. 1
JANELLE, RON & SUSAN ESTES, ) C.A. No. 1657ONC
DR. GARY WAKE, and FIRST UNION )
NATIONAL BANK, FOR THE ESTATE OF )
MARY ELLEN DOBBINS, individually and on )
behalf of all others similarly situated,
Plaintiffs,
V.
i
BOSTON UNIVERSITY, JOHN R. SILBER, )
LEON C. HIRSCH, TURI JOSEFSEN, REED )
R. PRIOR, GERALD S.J. CASSIDY,
KENNETH G. CONDON, NORMAN A. j
JACOBS, JEAN C. NICHOLS, SERAGEN, )
INC., SERAGEN TECHNOLOGY, INC.,
MARATHON BIOPHARMACEUTICALS, 1
LLC, LIGAND PHARMACEUTICALS, INC., )
and KNIGHT ACQUISITION CORP.,
;
Defendants. >
OPENING BRIEF OF DEFENDANTS SERAGEN, INC., SERAGEN
TECHNOLOGIES, INC., REED R. PRIOR, NORMAN A. JACOBS,
JEAN C. NICHOLS IN SUPPORT OF MOTION TO DISMISS
PLAINTIFFS' FIRST AMENDED VERIFIED COMPLAINT
Donald J. Wolfe, Jr.
OF COUNSEL: Arthur L. Dent
William F. Sullivan (#78353) POTTER ANDERSON & CORROON LLP
Christopher H. McGrath (#49129) Hercules Plaza
Sean T. Prosser (#163903) 13 13 N. Market Street
Colleen E. O'Leary (# 19 1402) P.O. Box 951
BROBECK,PHLEGER Wilmington, DE 19899
& HARRISON LLP (302) 984-6000
550 West "C" Street, Suite 1300 Attorneys for Defendants
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LETTER OPINION
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EXTRACTED KEY WORDS
PLAINTIFFS VOTE STOCKHOLDERS APPRAI ENJOIN INJUNCTIVE RELIEF COUNSEL PRELIMINARY INJUNCTION EXPEDITE CLASS ACTION MINORITY STOCKHOLDERS REASONS PROCEEDING COMPLAINT OPPOSE APPRAISAL RIGHTS DISSENT DEMAND MAJORITY DEFECTS TIE TELEPHONE CONFERENCE BASIS DISINGENUOLLE ADEQUATE PROTECTING ARC GLARING AVOID |
C0Vh-r ec Cl ,CII.QEJw','
OF THE:
S T A T E O F D E L A W A R E
HYROU I-. STLCLL
VJOEWUWLOR
August 7,1998
Via Fax
Michael J. Maimone
J o s e p h Schoell
Morris, James Hitcblens & Williams
P-O. Box 2306
WihiAgtOIl, DE 19!899
Donald J. Wolfe, Jr.
Potter Anderson & Corroon
P-0. Box 981
Wilmington, DE 191399
Re: Sergio M. Oliver, d aL v. Boston University, et aL
CA. No. 16570-NC
Counsel:
On August 4, 1998, ~~GAXG filed rNs acUon against rbe "controlhng"
stockholders, directoss and offkers of Scragen, Xnc. ("Seragen'~) seeking to
August 12, 1998 vote of the stockholders on a proposed merger with Ligand
Pharmacouticale, TUG;. ("Ligand"). Significantly, plaintiffs have made it clear
wish to enjoin the stockholder vote but not the consummation of the merger which
will occur if approved by majority vote of the stockholdera. The parties agree that
57% R c.1~~ majority, of the &xkholdors arc bound by illwuc&k ~roxv to Vote in
IWO; of the merger on August 12, 19%.
Plaintiffs filed this action as an individual, rather than ae a class
Although plaintiffs chose to file an individual action in an attempt to enjoin the
merger vote, they cantcnd the prow atatcnlzrll accampanyine the. aolicitRtian to be
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