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BRAUN v. NEVADA CHEMICALS, INC.

No. 20090493-CA.

236 P.3d 176 (2010)

2010 UT App 188

Irving S. BRAUN, individually and on behalf of all others similarly situated, Plaintiff and Appellant, v. NEVADA CHEMICALS, INC.; E. Bryan Bagley; Nathan L. Wade; John T. Day; James E. Solomon; M. Garfield Cook; Nevada Chemicals, Inc.; Oaktree Capital Management, LP; Calypso Acquisition Corp.; Cyanco Holding Corp.; and OCM Principal Opportunities Fund IV, LP, Defendants and Appellees.

Court of Appeals of Utah.

July 9, 2010.

Attorney(s) appearing for the Case

Jon V. Harper and Heather M. Sneddon, Salt Lake City, for Appellant.

Robert S. Clark, Stephen E. Hale, Jenifer L. Tomchak, Mark F. James, and Phillip J. Russell, Salt Lake City, for Appellees.

Before Judges THORNE, VOROS, and ROTH.

OPINION

VOROS, Judge:

¶ 1 Plaintiff Irving S. Braun owned two hundred shares of the more than seven million outstanding shares of Defendant Nevada Chemicals, Inc. He challenged the sale of Nevada Chemicals to Defendants Oaktree Capital Management, LP; Calypso Acquisition Corp.; Cyanco Holding Corp.; and OCM Principal Opportunities Fund IV, LP ("the Buyout Group"). Plaintiff initially brought a direct class action against the Buyout Group, Nevada Chemicals...

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