NEXT LEVEL COMMUNICATIONS v. MOTOROLA, INC.

C.A. Nos. 20144, 20114.

834 A.2d 828 (2003)

NEXT LEVEL COMMUNICATIONS, INC., a Delaware corporation, Next Level Partners, LLC, a Delaware limited liability company, Spencer Segura, and Jacqueline Segura, Plaintiffs, v. MOTOROLA, INC., a Delaware corporation, Defendant. In re Next Level Communications, Inc. Shareholders Litigation.

Court of Chancery of Delaware, New Castle County.

Decided: February 25, 2003.

Revised: February 26, 2003.


Attorney(s) appearing for the Case

Kevin G. Abrams, Srinivas M. Raju, J. Travis Laster, Thad J. Bracegirdle, Kelly C. Ashby, Evan O. Williford, Lisa M. Zwally, Richards, Layton & Finger, P.A., Wilmington, DE; Hugh Steven Wilson, Latham & Watkins, L.L.P., San Diego, CA; Christopher L. Kaufman, Charles W. Cox, II, Latham & Watkins, L.L.P., Los Angeles, CA, for Plaintiffs in C.A. No. 20144 and Defendants Next Level Communications, Inc. and Michael J. Norris in C.A. No. 20114.

Carmella P. Keener, Rosenthal, Monhait, Gross & Goddess, P.A., Wilmington, DE; Gregory M. Castaldo, Schiffrin & Barroway, Bala Cynwyd, PA; Patricia I. Avery, Wolf Popper, L.L.P., New York City, for Plaintiffs in C.A. No. 20114.

Kenneth J. Nachbar, Jon E. Abramczyk, Susan D. Wood, Jason A. Cincilla, Morris, Nichols, Arsht & Tunnell, Wilmington, DE; John A. Freedman, Craig B. Long, Angela J. Schowalter, Arnold & Porter, Washington, D.C., for Defendant in C.A. No. 20144 and Defendants Motorola, Inc., Eugene Delaney, and Gray Benoist in C.A. No. 20114.


OPINION AND ORDER

LAMB, Vice Chancellor.

I.

Plaintiff Next Level Communications, Inc. recently described itself as a "leading provider of broadband communications systems that enable telephone companies and other emerging communications service providers to cost-effectively deliver voice, data and video services over the existing copper wire telephone infrastructure." Next Level went public in November 1999, near the peak of the bubble in...

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