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ACCIPITER LIFE SCIENCES FUND v. HELFER

C.A. No. 2057-N.

905 A.2d 115 (2006)

ACCIPITER LIFE SCIENCES FUND, L.P., Plaintiff, v. Ricki Tigert HELFER, John E., Maupin, Jr., Owen G. Shell, Jr., Dewitt Ezell, Jr., William V., Lapham, Kenneth C. Donahey, Richard H. Evans, Michael P., Haley, and LifePoint Hospitals, Inc., Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: August 2, 2006.

Attorney(s) appearing for the Case

Joel Friedlander, Esquire, John M. Seaman, Esquire, Bouchard Margules & Friedlander, P.A., Wilmington, Delaware; Thomas J. Fleming, Esquire, Jeffrey A. Udell, Esquire, Olshan Grundman Frome Rosenzweig & Wolosky LLP, New York, New York, Attorneys for the Plaintiff.

Donald J. Wolfe, Jr., Esquire, Kevin R. Shannon, Esquire, Brian C. Ralston, Esquire, Kirsten A. Lynch, Esquire, Potter Anderson & Corroon LLP, Wilmington, Delaware; Robert C. Myers, Esquire, James P. Smith, III, Esquire, John E. Schreiber, Esquire, Dewey Ballantine LLP, New York, New York, Attorneys for the Defendants.

OPINION AND ORDER

LAMB, Vice Chancellor.

A corporation announced its annual stockholder's meeting in a press release devoted mainly to financial results. A substantial stockholder failed to thoroughly read the document, failed to notice the stockholder meeting announcement, and thus failed to realize that, under the corporation's advance notice bylaw, it had ten days from the date of that public announcement...

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