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1
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STIPULATION AND AGREEMENT OF COMPROMISE SETTLEMENT AND RELEASE
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EXTRACTED KEY WORDS
PLAINTIFFS COURT PARTIES STIPULATION ATTORNEYS TRANSACTION DEFENDANTS RECLASSIFICATION COUNSEL AGREEMENT PRIMAVERA SHARES CONNECTION LAWSUIT SETTLEMENT FUND ADMINISTRATOR EXPENSES AFFILIATES COMPROMISE OFFICERS REVERSE STOCK SPLIT ESCROW ACCOUNT PURSUANT CLAIMANT CLAUDE DELIBES LABORATORIES FINANCIAL ADVISOR EVIDENCE PROCEEDING |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
lN AND FOR NEW CASTLE COUNTY
____________________-----~---~---~~-------.--------~--"-- x
SAM GOWER and CLAUDE DELIBES,
; CA. N o . 14387-NC
Plaintiffs,
-v- 1>
DONALD T. BE.LDOCK, DR. JOHN -.
BELDOCK, VINCENT BOCCHIMUZZO, i I .I,>
and PRIMAVERA LABORATORIES, INC., ) : -1:
:L. ; I,
Defendants. ;
___-________________-----~---~---"~-------~----- --_..- ",___ x
STIPU:LATION AND AGREEMENT OF :`:$;
COMPROMISE. SETTLEMENT AND RELEASE : :
The parties to the above-captioned action, by and through their attorneys, have entered
the following Stipulation and Agreement of Compromise, Settlement and Release ("Stipulation" or
"Settlement Agreement"), subject to the approval of the Court:
WHEREAS:
A. On or about May 8, 1995, Donald T. Beldoclc ("Beldock"), the Chairman and Chief
Executive Officer ofl'rimavera Laboratories, Inc. ("Primavera" or the "Company"), a developer and
licenser of personal care insect repellent products, acquired the approximately 39% of the Company
he did not already own, at a price of $11,7139 per reclassified share in cash (the "Transaction").'
' In connection with the transaction, the Company reclassified ,its shares by operation
l/l ,OOO,OOO reverse stock split. The $11,709 per share refers to a reclassified share. The Company,
also in connection with and in furtherance of the Transaction, cashed-out tha remaining fractional
shares after the reclassification.
B. Following the Transaction, certain shareholders of the Company, Sam Gower and
Claude Delibes (collectively the "Plaintiffs"), filed a class action complaint on June 20, 1995 in
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2
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DEFENDANTS POST-TRIAL OPENING BRIEF
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EXTRACTED KEY WORDS
BELDOCK PLAINTIFFS TRANSACTIONS NAMMACHER VALUATION AVON JOHN BELDOCK DONALD LAWSON SALES SCENARIO SHAREHOLDERS REVENUE PROJECTIONS DEFENDANTS HALL DEPO ROYALTIES VINCENT BOCCHIMUZZO EMPIRE VALUATION BIOPHARMACEUTICS DIRECT MARKET LITIGATION MARIO AIETA DIRECTORS LICENSE AGREEMENT DIRECT MARKETING PRODUCT INTRODUCTIONS LABORATORIES EXPECTATIONS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SAM COWER and CLAUDE DeLIBES,
Plaintiffs.
V. : C.A. No. 14387 %y
KY
DONALD T. BELDOCK, DR. JOHN BELDOCK,
VINCENT BOCCHIMUZZO, and PRIMAVERA
LABORATORIES, INC.,
Defendants.
DEFENDANTS' POST-TRIAL OPENING BRIEF
MORRIS, NICHOLS, ARSHT & TUNNELL
Alan J. Stone
S Mark Hurd
P.O. Box 1347
Wilmington, DE 19899-1347
(302) 65 8-9200
Attorneys for Defendants
OF COUNSEL:
Mario Aieta
Aieta & Greco
73 Spring St., Suite 601
New York, New York 10012
(212) 334-1222
December 15,200O
Q!BLE OF CONTENTS
&g
TABLE OF CITATIONS ii
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3
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DEFENDANTS PRE-TRIAL BRIEF
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EXTRACTED KEY WORDS
TRANSACTIONS JOHN BELDOCK DEL PLAINTIFFS SHAREHOLDERS AVON COURT DONALD BELDOCK MARKET DEFENDANTS STOCK SUPR DELAWARE EMPIRE INSECT REPELLENT EPA LICENSE VINCENT BOCCHIMUZZO BIOPHARMACEUTICS TRIPLE EFFICACY AGREEMENT VALUATION MINORITY SHAREHOLDERS DIRECTORS TREOB DERIVATIVES EPA REGISTRATION DISCLOSURE PERSONAL CARE |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
SAM GOWER and CLAIJDE DeLIBES, :: C.A. No. 14387
Plaintiffs, ::
V. :
:
DONALD T. BELDOCK, DR. JOHN BELDOCK, :
VINCENT BOCCHIMUZZO, and PRIMAVERA :
LABORATORIES, INC., ::
Defendants. ::
@lEFENDANTS' PRE-TRIAL BRIEF
Morris, Nichols, Arsht & Tunnel1
Alan J. Stone
S. Mark Hurd
120 1 North Market Street
P.O. Box 1347
Wilmington, DE 19899-1347
(302) 6.58-9200
Attorneys for Defendants
Of counsel:
Mario Aieta
Aieta & Greco
73 Spring St., Suite 60 1
New York, New York 10012
(212) 334-1222
TABLE OF
HISTORY OF THE PROCEEDINGS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . 1
STATEMENT OF FACTS TO BE PROVEN AT TRIAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Primavera In May 1 990 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
From June 1990 To December 1993 . . . . . . . . . . . . . . . . . . . . . . . . . .
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4
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PRE-TRIAL ORDER
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EXTRACTED KEY WORDS
BELDOCK DEFENDANTS STOCK DONALD PLAINTIFFS PRIMAVERA LABORATORIES SHAREHOLDERS VINCENT BOCCHIMUZZO JOHN BELDOCK CERTIFICATE TRANSACTIONS FAIRNESS COURT PARTIES MINORITY SHAREHOLDERS AGREEMENT COMMON STOCK RECLASSIFICATION COMPLAINT DIRECTORS LICENSE AGREEMENT CONNECTION SPECIAL MEETING CHANCERY STIPULATED SCHEDULING ORDER SCHEDULING ORDER REVERSE STOCK REVERSE STOCK SPLIT DEPOSITION TRANSCRIPT |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
- -
SAM GOWER and CLAUDE DIELIBES, C. A. No. 14387
Plaintiffs,
V.
PRIMAVERA LABORATORIES, INC.,
DONALD I:. BELDOCK, DR. JOHN BELDOCK
and VINCENT BOCCHIMUZZO,
.- Defendants.
PM-TRIAL ORDER
Pursuant to the Stipulated Scheduling Order, the parties hereby submit this
Order.
NATURE OF THE ACTION
This is a class akction suit brought by minority shareholders challenging
fairness of a reclassification, reverse stock split of Primavera Inc. ("Primavera" or the
and cash out of the remaining fractional share interests. This action was filed in June, 1995.
Defendants filed an answer to the Complaint in August, 1995. Plaintiffs moved for class
certification on March 24, 1998. Defendants stipulated to class certification, and on January
1999 the Court granted plaintiffs motion for class certification. The Class is defined as: all
and beneficial holders of Primavera Laboratories, Inc. common stock as of May 8, 1995 and their
successors in interest, transferees and assigns, immediate and remote (excluding defendants
person, firm, trust, corporation or other entity related to or affiliated with any of the
"Class"), Pursuant to a revised scheduling order agreed to by the parties and entered by the
dated February 2,2000, a pre-trial conference is set for October 2,200O at 2:00 p.m. and trial is
for the week of October 23,200O. The parties have not moved for summary judgment.
FACTS AND LAW ARE! WHICH ARE ADMITTED AND REOUIRE NO PROOF
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