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KOVITZ v WARNER-LAMBERT Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 17,540, CourtCode: CC, CourtName: 1 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: KOVITZ, State: DE Delaware, UniqueCaseRef: DE>CC>00017540, Warner-lambert, Shareholders, Merger, Americanwarner, Fiduciary Duties, Pfizer, Common Stock, Individual Members, Chairman, Shares, Breach, Protect, Adjudications, Agreement, American Home, Pursuant, Fees, Directors, Reasons, Wrongful, Act, Adequate, Prosecuting, Accordance, Representing , ContentID: 120240657

Case Documents
1 1999-11-05 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 101648
7 pages
PDF
Total Documents: 1 document , 7 pages
Price: $ 19.95


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1 . COMPLAINT

EXTRACTED KEY WORDS
DEFENDANTS
SHAREHOLDERS
PLAINTIFF
MEMBERS
MERGER
AMERICANWARNER
FIDUCIARY DUTIES
PFIZER
COMMON STOCK
INDIVIDUAL MEMBERS
CHAIRMAN
SHARES
BREACH
PROTECT
ADJUDICATIONS
AGREEMENT
AMERICAN HOME
PURSUANT
FEES
DIRECTORS
REASONS
WRONGFUL
ACT
ADEQUATE
PROSECUTING
COUNSEL
LITIGATION
ACCORDANCE
REPRESENTING
                                           I
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I  /  --:  )           i:.                 1 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
\.(  f?`.                                                                                          
                                                           IN AND FOR NEW CASTLE COUNTY


                       _____________---__--___I________________------------------------------
                                                                                            X
                       NANCY KOVITZ,



                       v.

                       WARNER-LAMBERT COMPANY, LODEWIJK  J. R.                                     :
                       DE VINK,  ROBERT N. BURT, DONALD C. CLARK, :
                       JOHN A. GEORGES, WILLIAM H. GRAY, III,                                      :
                       WILLIAM R. HOWELL, DR. LASALLE D. LEFFALL,                                  :
                       JR., GEORGE A. LORCH, ALEX J. MANDL, and                                    :
                       MICHAEL I. SOVERN,

                                                              Defendants.
                       ___-____--__----__---------------------------------------------------- X

                                                                         COMPLAINT

                                                Plaintiff, by her attorneys, alleges upon

                       respect to her ownership of Warner-Lambert Company ("Warner-Lambert" or the

                       "Company") common stock as follows:

                                                                             PARTIES

                                                1.     Plaintiff is the owner of common stock of

                                                2.    Warner-Lambert is a Delaware corporation with

                       at 201  Tabor Road, Morris Plains, New Jersey. Warner-Lambert, among other

                       manufactures and sells pharmaceuticals.

                                                3.     Defendant Lodewijk J. R. de Vink is

SNIPPETS:
  • respect to her ownership of Warner-Lambert Company ("Warner-Lambert" or the
  • Officer and Chairman of the Board of Directors of Warner-Lambert.
  • Plaintiff brings this action on her own behalf and as a class action
  • on behalf of all shareholders of defendant Warner-Lambert (except defendants herein
  • brought is so numerous that joinder of all class members is impracticable.
  • there were over 854 million shares of Warner-Lambert common stock
  • Plaintiff is committed to prosecuting this action and has retained
  • competent counsel experienced in litigation of this nature.
  • Defendants are acting or refusing to act on grounds generally
  • The prosecution of separate actions by individual members of the
  • Class could create a risk of inconsistent or varying adjudications with respect to
  • For the reasons stated herein, a class action is superior to other
  • merger agreement with American Home Products Corporation
  • would be exchanged for 1.4919 shares of a new company to be formed by the Merger
  • to be called AmericanWarner Inc.
  • Further, pursuant to the agreement, Warner-Lambert's Chairman, de
  • other reciprocal termination fees of up to $2 billion.
  • representing a substantial premium for
  • The offer is 2.5 shares of Pfizer for each Warnertermination fee, a condition which is not
  • and again in breach of their duties, the Director Defendants rejected out of hand
  • The Director Defendants' fiduciary duties to Warner-Lambert
  • shareholders require the Director Defendants to act affirmatively to protect the interests
  • The Director Defendants are not acting in accordance with their fiduciary duties to
  • Plaintiff has no adequate remedy at law.
  • the wrongful conduct complained of herein, together with prejudgment and postjudgment
  •    |