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SEMINARIS v. LANDA

Civ. A. No. 12579.

662 A.2d 1350 (1995)

Frank J. SEMINARIS, Sr., individually and derivatively on behalf of Fidelity Medical, Inc., a Delaware corporation, Plaintiff, v. Efraim E. LANDA, Rone H. Lewis III, Herbert M. Haber, Herbert Grossman, Mark S. Hoffman, Jay Trien, and Martin A. Cearnal, Defendants, and Fidelity Medical, Inc., Nominal Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: May 2, 1995.

Attorney(s) appearing for the Case

Joseph A. Rosenthal, of Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington; Of Counsel: Curtis V. Trinko, and Timothy J. MacFall, of Law Offices of Curtis V. Trinko, New York City; and Kenneth A. Elan, New York City, for plaintiff.

Paul P. Welsh, of Morris, Nichols, Arsht & Tunnell, Wilmington, for defendants; Of counsel: Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, NJ, for defendant Fidelity Medical, Inc.

Sills, Cummis, Zuckerman, Radin, Tischman, Epstein & Gross, Newark, NJ, for defendants Herbert Grossman, Herbert Haber and Martin Cearnal.

Smith, Campbell & Paduano, New York City, for defendant Mark S. Hoffman.

Gordon, Hurwitz, Butowsky, Weitzer, Shalov & Wein, New York City, for defendant Jay Trien; and Saiber, Schlesinger, Satz & Goldstein, Newark, NJ, for defendant Rone H. Lewis III.

OPINION

CHANDLER, Vice Chancellor.

Fidelity Medical, Inc. ("Fidelity Medical") moves to dismiss this derivative lawsuit for failure to make demand on the board of directors of Fidelity Medical, or plead with particularity the futility of that demand. Fidelity Medical has also appointed a special committee of outside directors to review the merits of plaintiff's claim. The special committee recently issued a report recommending dismissal of plaintiff...

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