 |
 |
|
|
|
|
|
|
|
| | | |
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1
.
MEMORANDUM OPINION
|
EXTRACTED KEY WORDS
PARTICIPATING COUNSEL FIRMS COURT DEFENDANTS YORK SETTLEMENT CONSOLIDATION OBJECTORS MFW PERELMAN MAFCO DELAWARE REPRESENTATIVES ATTORNEYS PROPOSED SETTLEMENT DERIVATIVES PANAVISION NAMED PLAINTIFFS WILMINGTON WECHSLER HARWOOD DISQUALIFICATION COMPLAINT STOCKHOLDERS PANAVISION TRANSACTION BRUALDI LAW FIRM GARWIN BRONZAFT SHAREHOLDER INDIVIDUAL-PLAINTIFF |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
IN RE M&F WORLDWIDE CORP. ) Consolidated
SHAREHOLDERS LITIGATION ) Civil Action No. 18502
OPINION
Date Submitted: May 10, 2002
Date Decided: May 13, 2002
Norman M. Monhait, Esquire, of ROSENTHAL, MONHAIT, GROSS &
GODDESS, Wilmington, Delaware; Of Counsel: John F. Harnes and Gregory E.
Keller, Esquires, of HARNES KELLER, New York, New York; GARWIN
BRONZAFT GERSTEIN, New York, New York, WECHSLER HARWOOD
HALEBIAN & FEFFER, New York, New York, THE BRUALDI LAW FIRM,
New York, New York, Attorney for Participating Plaintiffs.
Thomas J. Allingham II, Randolph K Hemdon, and Douglas E. McCann, Esquires,
of SKADDEN ARPS, SLATE, MEAGHER & FLOM, Wilmington, Delaware; Of
Counsel: Robert E. Zimet, Susan L. Saltzstein and Sharon Garb, Esquires, of
SKADDEN, ARPS, SLATE, MEAGHER & FLOM, New York, New York,
Attorneys for Defendants Ronald Perelman, Howard Gittis, MAFCO Holdmgs Inc.
and MAFCO Consolidated Group, Inc.
Jon E. Abramczyk, Esquire, of MORRIS, NICHOLS, ARSHT & TUNNELL,
Wilmington, Delaware; Of Counsel: MORVILLO, ABRAMOWITZ, GRAND,
IASON & SILBERBERG, New York, New York, Attorneys for Defendants Jaymie
Duman, Theo Folz, J. Eric Hanson, Bruce Slovin, Stephen Taub, and M&F
Worldwide Corp.
David L. Finger, Esquire, of DAVID L. FINGER, P.A., Wilmington, Delaware; Of
Counsel: Paul J. Dobrowski, Esquire, of DOBROWSKI & ASSOCIATES,
Houston Texas; William C. Rand, Esquire, of LAW OFFICE OF WILLIAM
COUDERT RAND, New York, New York, Attorneys for Defendants Furtherfield
Partners, L.P., Robotti & Company, Inc., and Ravenswood Investment Company,
L.P.
Thad J. Bracegirdle, Esquire, of RICHARDS, LAYTON & FINGER, Wilmington,
Delaware; Of Counsel: KRAMER LEVIN NAFTALIS &' FRANKEL, New York,
New York, Attorneys for Defendants Paul M. Meister, Edward G. Hookstratten, and
Lance Liebman.
STRINE, Vice Chancellor
SNIPPETS:
|
|
2
.
MFW DEFENDANTS ANSWER TO VANNINI COMPLAINT
|
EXTRACTED KEY WORDS
DEFENDANTS RESPONSE RESPECTFULLY REFER PARAGRAPH EXECUTIVE OFFICER AGREEMENT COMPLAINT MAFCO PRESIDENT PLAINTIFFS STOCK PURCHASE DIRECTORS CHIEF EXECUTIVE OFFICER MAFCO HOLDINGS YORK WORLDWIDE FOLZ GITTIS DEFENDANTS INCORPORATE REFERENCE CONNECTION ALLEGATIONS TAUB PERELMAN CHAIRMAN SPECIAL COMMITTEE LIEBMAN MEMBERS COUNSEL |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
IN RE M & F WORLDWIDE CORP. ) Consolidated
SHAREHOLDERS LITIGATION ) Civil Action No. 18502-NC J
----.- >
JONATHAN P. VANNINI, I
Plaintiff, i Civil Action No. 18850-NC
V.
;
RONALD PERELMAN, et al., >
Defendants.
THE MFW DEFENDANTS' ANSWER
TO THE VANNINI COMPLAINT
Defendants Jaymie Durnan, Theo W. Folz, J. Eric Hanson, Bruce Slovin, Stephen
G. Taub and M&F Worldwide Corp. ("M&F") (collectively, .the "MFW Defendants"), by and
through their attorneys, hereby answer Jonathan P. Vannini's (the "Plaintiff') Complaint as
follows:
1. Denied.
2. Denied.
3. Denied.
4. Denied.
5. Denied.
6. Denied.
7. Denied, except admit that M&F's corporate office is located at 35 East
62"" Street, New York, New York 10021, and that as of March 20, 2001, M&F had 19,121,271
shares of common stock outstanding, which shares trade on the New York Stock Exchange, and
SNIPPETS:
|
|
3
.
MFW DEFENDANTS ANSWER TO THE SHAREHOLDER PLAINTIFFS AMENDED COMPLAINT
|
EXTRACTED KEY WORDS
DEFENDANTS PARAGRAPH PLAINTIFFS COMPLAINT RESPECTFULLY REFER ALLEGATIONS EXECUTIVE OFFICER STOCK MAFCO HOLDINGS DELAWARE SHARES DIRECTORS PRESIDENT BUSINESS FINANCIAL PERFORMANCE RESPONSES TRANSACTION DEFENDANTS INCORPORATE REFERENCE SHAREHOLDER FOLZ WORLDWIDE INFORMATION SUFFICIENT TRUTH AVERMENTS DENY COMMITTEE CHIEF EXECUTIVE OFFICER GITTIS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE; COUNTY
IN RE M & F WORLDWIDE CORP. ) Consolidated J
SHAREHOLDERS LITIGATION ) Civil Action No. 18502-NC
- ___- >
JONATHAN P. VANNINI, 1
Plaintiff, 1 Civil Action No. 18850-NC
V.
1
RONALD PERELMAN, et al.,
i
Defendants. 1
THE MFW DEFENDANTS' ANSWER TO THE SHAREHOLDER
PLAINTIFFS' AMENDED DERIVATIVE AND CLASS ACTION COMPLAINT
Defendants Jaymie Durnan, Theo W. Folz, J. Eric Hanson, Bruce Slovin, Stephen
G. Taub and M&F Worldwide Corp. ("M&F") (collectively, the "MFW Defendants"), by and
through their attorneys, hereby answer the In re M & F Worldwide Corp. Shareholders Litigation
plaintiffs' (the "Shareholder Plaintiffs") Amended Derivative and Class Action Complaint as
follows:
1. Denied
2. Denied
3. Denied, except admit the allegations in the first sentence.
4. Denied.
5. Denied.
6. Denied.
7. Denied.
SNIPPETS:
|
|
4
.
ANSWER OF DEFENDANTS HOOKSTRATTEN LIEBMAN AND MEISTER TO VANNINI COMPLAINT
|
EXTRACTED KEY WORDS
DENIES PARAGRAPH STOCK PURCHASE ADMITS REFERS PVI STOCK PLAINTIFF STOCK PURCHASE AGREEMENT LIEBMAN MEISTER DEFENDANTS MAFCO HOLDINGS MFW COMMITTEE INFORMATION SUFFICIENT DENIES POSSESSING DENIES POSSESSING KNOWLEDGE COMPLAINT TRADING PRICE NYSE LISTINGS COMMON STOCK ERIC HANSON ATTORNEYS TRANSACTION PLAINTIFFS CLAIMS CHIEF EXECUTIVE OFFICER FINANCIAL CONDITION CORRECT TERMS MAFCO CONSOLIDATED GROUP |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE 7'; 2
.'
r
IN AND FOR NEW CASTLE COUNTY ;,
-
IN RE M & F WORLDWIDE CORP. Consolidated _.
SHAREHOLDERS LITIGATION Civil ActionNo. 18502 b&&i'?
~_ --\
JONATHAN P. VANNINI,
Plaintiff,
V. t
RONALD PERELMAN, HOWARD Civil Action No. 18850 NC
GITTIS, EDWARD GREGORY
HOOKSTRATTEN, LANCE A.
LIEBMAN, PAUL M. MEISTER, THEO
W. FOLZ, JAYMIE A. DURNAN, BRUCE;
SLOVIN, J. ERIC HANSON, STEPHEN G.
TAUB, MAFCO HOLDINGS INC. and
MAFCO CONSOLIDATED GROUP, INC.,
Defendants.
ANSWER OF DEFENDANTS
EDWARD GREGORY HOOKSTRATTEN,
LANCE A. LIEBMAN, AND PAUL M. MEISTER TO
THE COMPLAINT OF JONATHAN P. VANNINI
Defendants Edward Gregory Hookstratten, Lance A. Liebman, and Paul M
Meister (the "Special Committee"), by its undersigned attorneys, for its answer to the complaint
dated April 27, 200.1 (the "Complaint"), of Jonathan P. Vannini ("Plaintiff'), states as follows:
1. Denies the allegations in paragraph 1, except admits (1) that M&F
Worldwide Corp. ("MFW") entered into an April 19, 2001 transaction (the "PVI Stock
Purchase"), as set forth in the April 19, 2001 stock purchase agreement (the "Stock Purchase
RLFl-2323223-1
SNIPPETS:
|
|
5
.
MAFCO DEFENDANTS ANSWER TO VANNINI COMPLAINT
|
EXTRACTED KEY WORDS
MAFCO ALLEGATIONS MAFCO DEFENDANTS COMPLAINT STATES PARAGRAPH REFER STOCK STOCK PURCHASE AGREEMENT HOLDINGS PLAINTIFF EXECUTIVE OFFICER TRADING HISTORY PANAVISION YORK COMMON STOCK WORLDWIDE YORK STOCK EXCHANGE SHARES CONSOLIDATED GROUP CONNECTION EXHIBIT AVER PRESIDENT GITTIS DIRECTORS PERELMAN CHAIRMAN FINANCIAL PERFORMANCE |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY T"
czzp, 52
-. .:
-----------------"-------------------~------..---------x
IN RE M & F WORLDWIDE CORP. : CONSOLIDATED i .-
SHAREHOLDERS LITIGATION CIVIL ACTION NO. 18502 NC `j
-------------------------------------~------~~-~--~---x r
-------------------------------------~------~--~--~---x ;:
-.
JONATHAN P. VANNINI,
Plaintiff;
V. CIVIL ACTION NO. 18850 NC
RONALD PERELMAN, ET AL.,
Defendants.
--------------------------------------------~---------x
THE MAFCO DEFENDANTS' ANSWER
TO THE VANNINI COMPLAINT
- -
Defendants Ronald Perelman, Howard Gittis, Mafco Holdings Inc., ("Mafco
Holdings") and Mafco Consolidated Group Inc. ("Mafco Consolidated Group")
(collectively the "Mafco Defendants"), by and through their attorneys, hereby answer
Jonathan P. Vannini's (the "Plaintiff `) Complaint as follows:
1. Denied. Paragraph 1 of the Complaint states a legal conclusion to
which no response is required. To the extent a response is required, the allegations
are specifically denied. The Mafco Defendants refer to M&F Worldwide Corp.`s
("M&F") Form 8-K, tiled with the Securities and Exchange Commission (the "SEC")
on April 20,2001, for an accurate description of the Stock Purchase Agreement, its
terms and consideration, and any other agreements entered into in connection wilth
SNIPPETS:
|
|
6
.
MAFCO DEFENDANTS ANSWER TO THE SHAREHOLDER PLAINTIFFS AMENDED COMPLAINT
|
EXTRACTED KEY WORDS
ALLEGATIONS MAFCO DEFENDANTS CLASS ACTION COMPLAINT STATES PARAGRAPH STOCK PURCHASE AGREEMENT MAFCO HOLDINGS SHARES PLAINTIFFS DEFENDANTS REFER PANAVISION PURSUANT DELAWARE RONALD PERELMAN CONSOLIDATED GROUP YORK STOCK EXCHANGE SHAREHOLDER PLAINTIFFS HOWARD GITTIS WORLDWIDE CODAREHOLDERS LITIGATION HOLDING SOLD COMMON STOCK CHIEF EXECUTIVE OFFICER TRADING HISTORY TRANSACTION DEFENSE FINANCIAL PERFORMANCE DIRECTORS PRESIDENT PRINCIPAL EXECUTIVE OFFICE |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
ci,-3 - -
-.
-------------------------------------~------~.~-"------x I:,
. . ._
IN RE M & F WORLDWIDE CORP. : C O N S O L I D A T E D I
SHAREHOLDERS LITIGATION CIVIL ACTION NO. 18502 NC7
------------------------------------~.------~---------x
-------------------------------------~------~~-"------x
,-.
JONATHAN P. VANNINI,
Plaintiff,
V. CIVIL ACTION NO. 18850 NC
RONALD PERELMAN, ET AL.,
Defendants.
------------------------------------~.------~---------x
THE MAFCO DEFENDANTS' ANSWER TO THE SHAREHOLDER PLAIN-
TIFFS' AMENDED DERIVATIVE AND CLASS ACTION COMPLAINT
Defendants Ronald Perelman, Howard Gittis, Mafco Holdings Inc. ("Mafco
Holdings"), and Mafco Consolidated Group Inc. ("Mafco Consolidated Group")
(collectively the "Mafco Defendants"), by and through their attorneys, hereby answer
the In re M & F Worldwide Codareholders Litigation plaintiffs' (the "Share-
holder Plaintiffs") Amended Derivative and Class Action Complaint as follows:
1. Denied. Paragraph 1 of the Amended Derivative and Class Action
Complaint states a legal conclusion to which no response is required. To the extent a
response is required, the allegations are specifically denied except admitted that on
April 19,2001, M&F Worldwide Corp ("M&F") and PX Holding Corporation ("PX
Holding") entered into a stock purchase agreement (the "Stock Purchase Agree-
ment"), pursuant to which PX Holding sold 7,320,225 shares of Panavision Inc.
SNIPPETS:
|
|
7
.
ANSWER TO THE AMENDED COMPLAINT OF FURTHERFIELD PARTNERS
|
EXTRACTED KEY WORDS
PARAGRAPH DENIES ADMITS PLAINTIFFS PANAVISION DEFENDANTS LIEBMAN HOLDING MEISTER TRANSACTION MAFCO HOLDINGS MFW SHARES REFERS INFORMATION SUFFICIENT DENIES POSSESSING KNOWLEDGE COMMON STOCK CLASS ACTION COMMITTEE ACTION COMPLAINT WORLDWIDE SHAREHOLDERS TRADING PRICE EDWARD GREGORY ERIC HANSON NYSE NYSE LISTINGS CONSOLIDATED GROUP UNDERSIGNED ATTORNEYS |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
IN RE M & F WORLDWIDE CORP Consolidated :.-
SHAREHOLDERS LITIGATION
Civil Action No. 18502 NC 1~~.
- = - - ;
I
JONATHAN P. VANNINI,
Plaintiff,
V
RONALD PERELMAN, HOWARD Civil Action No. 18850 NC
GITTIS, EDWARD GREGORY
HOOKSTRATTEN, LANCE A.
LIEBMAN, PAUL M. MEISTER, THEO
W. FOLZ, JAYMIE A. DURNAN, BRUCE
SLOVIN, J. ERIC HANSON, STEPHEN G.
TAUB, MAFCO HOLDINGS INC. and
MAFCO CONSOLIDATED GROUP, INC.,
Defendants.
ANSWER TO THE AMENDED DERIVATIVE AND CLASS
ACTION COMPLAINT OF FURTHERFIELD PARTNERS, L.P.
Defendants Edward Gregory Hookstratten, Lance A. Liebman, and Paul M.
Meister (the "Special Committee"), by its undersigned attorneys, for its answer to the Amended
Derivative and Class Action Complaint (the "Amended Complaint"), filed by the plaintiffs in h
re M&F Worldwide Shareholders Litigation (the "Plaintiffs"), states as follows:
1. Denies the allegations in paragraph 1, except admits that Plaintiffs
to "bring[] this action to rescind" the April 19, 2001 purchase (the "Transaction") by M&F
Worldwide Corp. ("MFW") of certain Panavision, Inc. ("Panavision") shares that had been
RLFI-2323237-1
SNIPPETS:
|
|
8
.
AMENDED DERIVATIVE AND CLASS ACTION COMPLAINT
|
EXTRACTED KEY WORDS
DEFENDANTS PLAINTIFF MAFCO HOLDINGS PANAVISION TRANSACTION STOCK WORLDWIDE YORK DELAWARE CLASS ACTION COMPLAINT DERIVATIVELV SHAREHOLDER STAKE HOWARD GITTIS DEBT FURTHERFIELD PARTNERS ERIC HANSON LANCE LIEBMAN DIRECTORS BRUCE SLOVIN NOMINAL DEFENDANT MARKET PRICE CASH FLOW FIDUCIARY DUTY SUBSIDIARIES HARNES KELLER THIRD AVENUE OUTSTANDING DEBT CHIEF EXECUTIVE OFFICER |
ORIGINAL
IN THE COURT OF CHANCERY IN THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
---------------------------------------------------------------~
FURTHERFIELD PARTNERS, L.P.,
Plaintiff,
-against-
: Civil Action No. 18502 NC
RONALD 0. PERELMAN, THEO W. FOLZ,
HOWARD GITTIS, JAYMIE A. DURNAN,
J. ERIC HANSON, ED GREGORY
HOOKSTRATTEN, LANCE LIEBMAN,
PAUL M. MEISTER, BRUCE SLOVIN,
STEPHEN G. TAUB, PX HOLDING
CORPORATION, and MAFCO HOLDINGS,
INC.,
Defendants.
-and-
M & F WORLDWIDE CORP.,
Nominal Defendant.
----------------------------------------------------------------`~
NOTICE OF FILING AMENDED CLASS ACTION COMPLAINT
TO: Thomas J. Allingham, II, Esquire
Skadden Arps Slate Meagher & Flom LLP
One Rodney Square
Wilmington, Delaware 19801
PLEASIX TAKE NOTICE that plaintiff herewith files the attached Amended
Derivative And Class Action Complaint as of right pursuant to Rule 15'(a).
In compliance with Rule 15(aa), plaintiff avers that the Amended Complaint is in
full substitution for the Complaint heretofore filed on November 14, 2ClOO.
SNIPPETS:
|
|
9
.
COMPLAINT
|
EXTRACTED KEY WORDS
DEFENDANT MAFCO HOLDINGS PANAVISION WORLDWIDE OFFICER EMPLOYEE DIRECTORS CONTROLLING STAKE SUBSIDIARIES BUSINESS PLAINTIFF GRACES TRANSACTION STOCK PRESIDENT VIRTUE OWES CONTINUED EMPLOYMENT FOLZ MAHER MACANDREWS FORBES ABEX LICORICE PRICE UNFAIR RELIEF |
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
FURTHERFIELD PARTNERS, L-P.,
Plaintiff,
-against- Civil Action No.@.$-~a~-#c-
RONALD 0. PERELMAN, THEO W. FOLZ,
HOWARD GITTIS, JAMES R. MAHER,
JAYMIE A. DURNAN, J. ERIC HANSON,
ED GREGORY HOOKSTRATTEN, LANCE
LIEBMAN, PAUL M. MEI!STER, BRUCE
SLOVIN, and STEPHEN G. TAUB,
Defenldants.
-and-
M SC F WORLDWIDE CORP.,
Nominal Deffendant. :
COMPLAINT
Plaintiff, Furtherfield Partners, L.P., for its
complaint against defendants, alleges as follows:
PARTIES
1. Plaintiff FurtherfieldPartners, L.P. ("Furtherfield
Partners" or `Plaintiff") owns over 55,000 shares of stock of
nominal defendant M & F Worldwide Corp., and has owned such shares
at all ti.mes material hereto. Plaintiff brings this action
derivatively on behalf of M & F Worldwide Corp.
2. Nominal Defendant M & F Worldwide Corp. (I'M & F" or
the ffCompany") is a Delaware corporation, with principal executive
offices located at 35 East 62"" Street, New York, NY 10021, which
is also the principal office of defendant Ronald 0. Perelman and
SNIPPETS:
|
|
|
| | | |
|
|
