IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
HELEN KORSINSKY,
Plaintiff,
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V. 1 C.A. No. 16440
SUPERTEL HOSPITALITY, INC., PAUL J.
SCHULTE, STEVE H. BORGMANN, LOREN
STEELE, JOSEPH CAGGIANO, RICHARD
HERNINK and PMC COMMERCIAL TRUST,
LTD.,
Defendants.
NOTICE OF MOTION
TO: Joseph A. Rosenthal, Esquire Steven J. Balick, Esquire
Rosenthal, Monhait, Gross Ashby & Geddes
& Goddess One Rodney Square, #302
Suite 1401, Mellon Bank Center P.O. Box 1150
Wilmington, DE 19899-l 070 Wilmington, DE 19899
PLEASE TAKE NOTICE that the attached Motion to Dismiss will be presented to the Court
at the convenience of the Court and counsel.
Samgel A. Nolen a
Megan Semple Greenberg
Richards, Layton & Finger
P.O. Box 551
Wilmington, DE 19899
Of Counsel: (302) 658-6541
Attorneys for Supertel Hospitality,
McGrath, North, Mullin & Kratz, P.C. Paul J. Schulte, Steve H. Borgmann,
222 South Fifteenth Street Steele, Joseph Caggiano and Richard
One Central Park Plaza, Suite 1400
Omaha, NE 68 102
DATED: March 23,1999
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SNIPPETS:
SUPERTEL HOSPITALITY, INC., PAUL J. SCHULTE, STEVE H. BORGMANN, LOREN STEELE, JOSEPH
HERNINK and PMC COMMERCIAL TRUST,
Defendants.
PLEASE TAKE NOTICE that the attached Motion to Dismiss will be presented to the Court
at the convenience of the Court and counsel.
Joseph Caggiano and Richard Hernink hereby move the Court to
The complaint in this action, filed on June 10,1998, challenged a proposed merger
between Supertel Hospitality, Inc. and PMC Commercial Trust, Ltd..
complaint was typical of those often filed immediately after announcement of a corporate
The complaint prayed for injunctive or rescissory relief.
which Supertel stockholders would receive shares of PMC.
Supertel had the right to terminate the Merger Agreement if the average trading price
value which would be received by them if the average trading price of PMC common stock were
In the general stock market decline which occurred in the third quarter of 1998,
disclosed in a press release attached to Supertel's Form 8-K filed with the Securities and
plaintiff has not voluntarily dismissed this entirely moot case.
New Castle Co., Del.
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