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ROSENGARTEN v. BUCKLEY

No. HM80-2935.

565 F.Supp. 193 (1983)

Martin ROSENGARTEN v. John L. BUCKLEY, Jr.; John F. Caffey; Donald L. Dick, Jr.; John D. Doub; Leonard Gerber; Richard L. Hall; James J. Harrison, Jr.; Charles P. McCormick, Jr.; Robert B. McFadden; David B. Michels; E. Clayton Shelhoss; Bailey A. Thomas; Harry K. Wells; Hillman V. Wilson; W. Gordon Yates; Sandoz, Ltd. and McCormick & Company, Inc.

United States District Court, D. Maryland.

February 23, 1982.

Attorney(s) appearing for the Case

Leon J. Rudd, Marc R. Kivitz, Alvin J. Filbert, Jr. and Wartzman, Rombro, Rudd & Omansky, Baltimore, Md., Irving Bizar and Pincus, Ohrenstein, Bizar, D'Alessandro & Solomon, New York City, for plaintiff.

John Martin Jones, Jr., Donald E. Sharpe, John A. MacColl and Piper & Marbury, Baltimore, Md., for individual defendants.

George Beall and Miles & Stockbridge, Baltimore, Md., Skadden, Arps, Slate, Meagher & Flom, New York City, for defendant Sandoz, Ltd.

Donald A. Scott & Jessica Sanders Jones and Morgan, Lewis & Bockius, Philadelphia, Pa., Richard W. Single, Jr., Hunt Valley, Md., for defendant McCormick & Co., Inc.

MEMORANDUM AND ORDER

HERBERT F. MURRAY, District Judge.

This is a stockholder's derivative suit in which the plaintiff claims that McCormick & Company, Inc. was injured by the purchase of 4.8% of its non-voting common stock from Sandoz, Ltd. Specifically, it is claimed that the Board of Directors of McCormick, in order to preserve their positions within the corporation hierarchy, caused the corporation to make this purchase from Sandoz as part of an...

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