Want access to unlimited case records and advanced research tools? Create your free CasePortal account now. No credit card required to register.
Try CasePortal for FreeJ. Doty partially grants the shareholders' motion for partial summary judgment in a proposed class-action suit stemming from a merger between two biotech companies, denies motions for summary judgment and to exclude expert testimony by representatives of both companies and dismisses a subsidiary of one of the companies. The shareholders have established standing to pursue their claims even though they were not direct owners of shares held by their companies, and the business judgment rule is inapplicable in this case. The companies, however are not precluded from raising a ratification defense, and the shareholders are not required to provide expert testimony to support their breach-of-fiduciary-duty claim. The experts they have provided are also sufficiently qualified and reliable.