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BOLT v. MERRIMACK PHARMACEUTICALS, INC.

No. 05-16282.

503 F.3d 913 (2007)

Albert D. BOLT, Plaintiff-Appellee, v. MERRIMACK PHARMACEUTICALS, INC., Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Filed September 11, 2007.

Attorney(s) appearing for the Case

Deborah S. Birnbach, Goodwin Procter LLP, Boston, MA, argued the cause for the defendant-appellant, and filed briefs; William F. Sheehan, Goodwin Procter LLP, Boston, MA, and Todd Noonan, Stevens & O'Connell LLP, Sacramento, CA, were on the briefs.

William R. Warne, Downey Brand LLP, Sacramento, CA, argued the cause for the plaintiff-appellee, and filed a brief; Rhonda Cate Canby, Downey Brand LLP, Sacramento, CA, was on the brief.

Before: CYNTHIA HOLCOMB HALL and DIARMUID F. O'SCANNLAIN, Circuit Judges, and IRMA E. GONZALEZ, Chief District Judge.

O'SCANNLAIN, Circuit Judge:

We are called upon to interpret a corporation's articles of organization to decide whether it has an obligation to redeem certain shares of its stock.

I

Albert D. Bolt owns 52,488 shares of Series A Redeemable Preferred Stock ("Series A Stock") issued by Merrimack Pharmaceuticals, Inc. ("Merrimack"), a biotechnology company organized under the laws of Massachusetts. Bolt now wants to redeem those shares.

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