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WHITE v. PANIC

No. 66,2000.

783 A.2d 543 (2001)

Andrew WHITE, Plaintiff Below, Appellant, v. Milan PANIC, Weldon B. Jolley, Thomas H. Lenagh, Roberts A. Smith, Richard W. Star, Andrei Kozyrev, Norman Barker, Jr., Birch E. Bayh, Jr., Alan F. Charles, Adam Jerney, Stephen D. Moses, Roger Guillemin, Jean-Francois Kurz, Charles T. Manatt, Michael Smith and ICN Pharmaceuticals, Inc., Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: October 3, 2001.

Attorney(s) appearing for the Case

Joseph A. Rosenthal, of Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington; Irving Bizar (argued), of Bizar Martin & Taub, LLP, New York City, of counsel, for Appellant.

Jesse A. Finkelstein, and Srinivas M. Raju, of Richards, Layton & Finger, P.A., Wilmington; Warren L. Dennis (argued), Gregg M. Mashberg, and Michael C. Hochman, of Proskauer Rose LLP, Washington, D.C., of counsel, for Director Appellees.

Josy W. Ingersoll, and Christian Douglas Wright, of Young, Conaway, Stargatt & Taylor, LLP, Wilmington; Laurence P. Eagel (argued) of Bragar Wexler Eagel & Marganstern, LLP, New York City; Clifford R. Saffron, of ICN Pharmaceuticals, Inc., New York City, of counsel, for Appellee ICN Pharmaceuticals, Inc.

Before VEASEY, Chief Justice, WALSH, HOLLAND, BERGER and STEELE, Justices, constituting the Court en Banc.

VEASEY, Chief Justice:

In this appeal, we consider whether a complaint in a derivative action presents sufficient particularized factual allegations to create a reasonable doubt that the director defendants were disinterested and independent or that their conduct was protected by the business judgment rule. The complaint alleges, based almost entirely on facts derived from an investigative report in a news magazine, that...

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