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GAYNOR v NANOVATION TECHNOLOGIES Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 17,713, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: GAYNOR, State: DE Delaware, UniqueCaseRef: DE>CC>00017713, Nanovation, Stock, Paragraph, Gaynor, Allegations, Response, Exhibit, Stamford, Stock Options, Shares, Demand, Complaint, Stockholders, Respectfully Refers, Pertaining, Inspection, Requests, Thereof, Exchange, Delaware, Corporate Books, Officers, Directors, Outstanding, Insider, Hereto, Transaction, Relating, Corporation Law, Pending, Employees, Agreements, Responsive Pleading, Shareholders, Discrepancies, Amount, Specify, First Sentence, Sufficient Information, Veracity, Books, Proper , ContentID: 120240535

Case Documents
1 2000-02-09 ANSWER AND AFFIRMATIVE DEFENSES OF NANOVATION TECHNOLOGIES
[ see first page and extracted highlights below  ] ItemID: 101460
6 pages
PDF
2 2000-01-05 COMPLAINT FOR INSPECTION AND COPYING OF CORPORATE BOOKS AND RECORDS
[ see first page and extracted highlights below  ] ItemID: 101461
10 pages
PDF
Total Documents: 2 documents , 16 pages
Price: $ 24.95


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1 . ANSWER AND AFFIRMATIVE DEFENSES OF NANOVATION TECHNOLOGIES

EXTRACTED KEY WORDS
ALLEGATIONS
RESPONSE
NANOVATION
COMPLAINT
COURT
RESPECTFULLY REFERS
EXHIBIT
THEREOF
GAYNOR
LAW
RESPONSIVE PLEADING
STAMFORD
FIRST SENTENCE
SUFFICIENT INFORMATION
VERACITY
INSPECTION
BOOKS
PROPER
REQUESTS
STROOCK
GEORGE
NANOVATION TECHNOLOGIES
ATTORNEYS
HEREBY
SETH
JOSEPH
COUNSEL
REGISTERED AGENT
DELAWARE
             IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE                                  /
                                                                                               
                            IN AND FOR NEW CASTLE COUNTY



GEORGE N. GAYNOR,

                              Plaintiff,

                      V.                                    i       C.A. No.  17713-NC
                                                            >
NANOVATION TECHNOLOGIES, INC.,
a Delaware corporation.                                     i                             :
                                                            >
                              Defendant.                    )

     ANSWER AND  AFFIRMATIVE DEFENSES OF DEFENDANT NANOVATION
                                    TECHNOLOGIES, INC.


               Nanovation Technologies, Inc. ("Nanovation" or the "Company"), by and through

its undersigned attorneys, based on its own knowledge as to itself and on information and belief

as to all other matters, hereby responds to the allegations of the complaint of George N. Gaynor

("Gaynor") as follows:

               1. The allegations of paragraph 1 are admitted.

               2. The allegations of paragraph 2 are admitted.

               3. The allegations of paragraph 3 are admitted.

               4. The allegations of paragraph 4 are denied.

               5. The allegations of paragraph 5 are denied.

               6. The allegations of paragraph 6 are denied, except it is admitted that Seth

Joseph, who has acted as counsel to the Company and who currently holds the title of director of

legal affairs for the Company, received copies of Gaynor's letters of September 15, 1999 and



October 4, 1999, which are attached to Gaynor's complaint as Exhibits A and B. By way of

SNIPPETS:
  • ANSWER AND AFFIRMATIVE DEFENSES OF DEFENDANT NANOVATION
  • Nanovation Technologies, Inc., by and through
  • hereby responds to the allegations of the complaint of George N. Gaynor
  • The allegations of paragraph 1 are admitted.
  • The allegations of paragraph 6 are denied, except it is admitted that Seth
  • further response, Nanovation respectfully refers the Court to said letters for the full and
  • Nanovation respectfully refers the Court to said letter for the full and accurate contents
  • Joseph received copies of the letters attached to Gaynor's complaint as Exhibits D and E. By
  • Paragraph 10 sets forth conclusions of law to which no responsive pleading is
  • Nanovation received a copy of the letter attached as Exhibit F to Gaynor's complaint,
  • registered agent in Delaware.
  • Nanovation and Stamford are involved in ongoing discussions and negotiations regarding a
  • The Company is without sufficient information to form a belief as to the
  • veracity of the allegations of the first sentence of paragraph 17.
  • inspection of the Company's books and records for a proper purpose.
  • The complaint is barred, in whole or in part, because the inspection of the
  • Company's books and records demanded by Gaynor would be adverse to the interests of the
  • Nanovation respectfully requests that the Court enter an order and
  • including attorneys' fees, and granting the Company such other and further relief as the Court
  • STROOCK & STROOCK & LAVAN LLP
  • I hereby certify that on February 9, 2000, two copies of the within document were
  • served by hand delivery on counsel of record as follows:

  • 2 . COMPLAINT FOR INSPECTION AND COPYING OF CORPORATE BOOKS AND RECORDS

    EXTRACTED KEY WORDS
    STOCK
    GAYNOR
    STOCK OPTIONS
    SHARES
    DEMAND
    STOCKHOLDERS
    STAMFORD
    PERTAINING
    EXCHANGE
    EXHIBIT
    DELAWARE
    INSPECTION
    CORPORATE BOOKS
    OFFICERS
    DIRECTORS
    REQUESTS
    OUTSTANDING
    INSIDER
    HERETO
    TRANSACTION
    RELATING
    CORPORATION LAW
    PENDING
    EMPLOYEES
    AGREEMENTS
    SHAREHOLDERS
    DISCREPANCIES
    AMOUNT
    SPECIFY
    
               IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE!                                      
    
                               IN AND FOR NEW CASTLE COUNTY
    
    
    GEORGE N. GAYNOR, a stockholder                 )
    of Nanovation Technologies, Inc,                                                                   
                                                                                              r-
    a Delaware corporation,                         ;
                              41
                            Plaintiff,
    
             V.                                     ;       C~A~NO.,,~~~~~                            1
                                                    1                                          "'      
    NANOVATION TECHNOLOGIES, INC., )
    a Delaware corporation.
                                                    ;
                            Defendant.              )
    
    
                        COMPLAINT FOR INSPECTION AND COPYING
                    OF CORPORATE BOOKS AND RECORDS PURSUANT TO
                   8 220 OF THE DELAWARE GENERAL CORPORATION LAW
    
    
             George N. Gaynor ("Gaynor"), by his attorneys, for his complaint herein against
    
    defendant Nanovation Technologies, Inc., a Delaware corporation ("Nanovation"), alleges
    
    as follows:
    
             1. Gaynor, a resident of the state of Illinois, is the owner  of 50,000 shares of the
    
    common stock of Nanovation, which he acquired in January, 1998. Upon information
    
    and belief, based upon reported private placements of Nanovation stock, Gaynor's shares
    
    in Nanovation have a current value in excess of $500,000.
    
             2. Nanovation is a Delaware corporation engaged in the business of developing
    
    its proprietary Micro-Cavity Technology ("MCT")  to enhance the speed, capacity and
    
    bandwidth of telecommunications and computing products via optical communications.
    
    Nanovation holds several approved and pending patents relative to MCT.
    
    
    WP3   : 446874.2
    
    SNIPPETS:
  • NANOVATION TECHNOLOGIES, INC.,)
  • COMPLAINT FOR INSPECTION AND COPYING
  • 220 OF THE DELAWARE GENERAL CORPORATION LAW
  • Gaynor, a resident of the state of Illinois, is the owner of 50,000 shares of the
  • common stock of Nanovation, which he acquired in January, 1998.
  • Nanovation holds several approved and pending patents relative to MCT.
  • the total number of Nanovation stockholders is
  • Stamford International Inc., whose principal, if not sole, business is the
  • Upon information and belief, the officers and directors
  • Prior to sending the demand for inspection of corporate books and records at
  • issue in this case, Gaynor repeatedly requested information from Nanovation relating to,
  • among other things, his stock interest in Nanovation, discrepancies in statements
  • Nanovation by a proposed merger or share exchange between Nanovation and Stamford
  • Nanovation stock issued and outstanding, as well as facts relating to possible insider
  • Gaynor's letters of September 15, 1999, and October 4, 1999 are attached hereto as
  • general terms the existence of various private placements and stock options awarded to
  • Gaynor's requests, and raised further questions about improper insider dealings, Gaynor,
  • all corporate records which identify any "insider" shareholders of Nanovation, within the
  • all corporate records pertaining to outstanding stock options for shares of Nanovation,
  • all corporate records relating to the compensation of officers, directors, consultants and
  • Exhibit F.
  • amount of outstanding stock and stock options;
  • concern a proposed transaction that would involve an exchange of stock between
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