IN RE BAXTER INTERN., INC. SHAREHOLDERS LITIGATION

Civ. A. No. 13130.

654 A.2d 1268 (1995)

In re BAXTER INTERNATIONAL, INC. SHAREHOLDERS LITIGATION.

Court of Chancery of Delaware, New Castle County.

Decided: March 7, 1995.


Attorney(s) appearing for the Case

Joseph A. Rosenthal and Norman M. Monhait, of Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, Steven G. Schulman, of Milberg Weiss Bershad Hynes & Lerach, New York City, Robert M. Roseman and Debra M. Kahn, of Spector & Roseman, P.C., Philadelphia, PA, and Marvin A. Miller, of Miller Faucher Chertow Cafferty & Wexler, Chicago, IL, for plaintiffs.

Jesse A. Finkelstein, of Richards, Layton & Finger, Wilmington, David F. Graham and Roger F. Lewis, of Sidley & Austin, Chicago, IL, for defendant Baxter Intern., Inc.

Rodman Ward, Jr. and John G. Day, of Skadden, Arps, Slate, Meagher & Flom, Wilmington, for the individual defendants.


MEMORANDUM OPINION

BALICK, Vice Chancellor.

These are consolidated stockholder derivative actions. Defendants move to dismiss for failure to plead with particularity reasons for not demanding action by the directors, as required by Rule 23.1.

I

The identical complaints were filed following the public announcement of allegations of wrongdoing by Baxter International, Inc. ("Baxter"). The complaint names eighteen individual defendants. Of...

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