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KEARNEY v. JANDERNOA

No. 1:95-CV-823.

957 F.Supp. 116 (1997)

Keith M. KEARNEY, et al., Plaintiffs, v. Michael V. JANDERNOA, et al., Defendants.

United States District Court, W.D. Michigan, Southern Division.

February 21, 1997.

Attorney(s) appearing for the Case

John E. Anding, Drew, Cooper & Anding, Grand Rapids, MI, Steven E. Cauley, Steven E. Cauley, PA, Little Rock, AR, Milton Clay Ragsdale, M. Clay Ragsdale Law Offices, Birmingham, AL, for Plaintiffs.

Ellen S. Carmody, Law, Weathers & Richardson, Grand Rapids, MI, Peter J. Meyer, Gardner, Carton & Douglas, Chicago, IL for Michael J. Jandernoa, Lonnie L. Smith, Richard G. Hansen, M. James Gunberg, Steven N. Hutchinson, Robert P. Lasner, Mark Olesnavage, F. Folsom Bell, William C. Swaney, Ralph E. Klingenmeyer, Perrigo Co.

Gregory G. Timmer, Rhoades, McKee, Boer, Goodrich, & Titta, Grand Rapids, MI, Michael B. Reuben, Gordon, Altman, Butowsky, Weitzen, Shalov & Wein, New York City, for Henry L. Hillman, C.G. Grefenstette.

William K. Holmes, Warner, Norcross & Judd, L.L.P., Grand Rapids, MI, Dennis E. Glazer, Davis, Polk & Wardwell, New York City, for J.P. Morgan Securities, Ltd., J.P. Morgan Securities, Inc., Morgan Stanley & Company, Inc., Morgan Stanley International, Smith Barney Shearson, Inc., Dean Witter Reynolds, Inc., Dean Witter International Ltd.

OPINION

QUIST, District Judge.

This case is a derivative action against, among others, officers and directors of Perrigo Company ("Perrigo"). Before this Court is a motion to dismiss filed by Defendants Henry L. Hillman and C.G. Grefenstette ("Hillman Defendants").

In October of 1993, a secondary public offering was held of 13,000,000 shares of Perrigo stock. Plaintiffs bring this derivative suit against, among others, the Hillman Defendants...

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