APPRIVA SHAREHOLDER v. EV3, INC.

Nos. 470, 2006, 623, 2006.

937 A.2d 1275 (2007)

APPRIVA SHAREHOLDER LITIGATION COMPANY, LLC, Plaintiff Below, Appellant, v. EV3, INC., a Delaware corporation f/k/a Microvena Corporation; ev3 Sunnyvale, Inc., a California corporation, f/k/a Appriva Medical Inc., Defendants Below, Appellees. and Michael D. Lesh, M.D., Plaintiff Below, Appellant, v. Appriva Medical, Inc., a California Corporation; Microvena Corporation, a Minnesota corporation; ev3, Inc., a Delaware corporation; Warburg, Pincus Equity Partners, L.P., a Delaware limited partnership; Warburg, Pincus Netherlands Equity Partners I, C.V., a Netherlands limited partnership; Warburg, Pincus Netherlands Equity Partners II, C.V., a Netherlands limited partnership; Warburg, Pincus Netherlands Equity Partners III, C.V., a Netherlands limited partnership; Warburg, Pincus LLC, a New York limited liability company; Vertical Fund I, L.P., a Delaware limited partnership; Vertical Fund II, L.P., a Delaware limited partnership; and Paul Buckman, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: November 1, 2007.


Attorney(s) appearing for the Case

Jeffrey S. Goddess, Esquire, Rosenthal, Monhait & Goddess, Wilmington, Delaware; Robert A. Goodin (argued) and Francine T. Radford, Esquire, Goodin, MacBride, Squeri, Ritchie & Day, LLP, San Francisco, California; and Kirk B. Hulett, Esquire, Hulett Harper Stewart, LLP, San Diego, California, for appellant, Michael D. Lesh.

Jeffrey L. Moyer, Esquire and Kelly E. Farnan, Esquire, Richards, Layton & Finger, Wilmington, Delaware; Paul H. Dawes, Esquire, Darius C. Ogloza (argued) and Christopher W. Vincent, Latham & Watkins, San Francisco, California, for appellant, Appriva Shareholder Litigation Company, LLC.

Daniel V. Folt, Esquire and Matt Neiderman, Esquire, Duane Morris, LLP, Wilmington, Delaware; Matthew A. Taylor, Esquire (argued), James L. Beausoleil, Jr., Esquire, Seth A. Goldberg, Esquire and Christina E. Norland Audigier, Esquire, Duane Morris, LLP, Philadelphia, Pennsylvania; and Jeffrey J. Bouslog, Oppenheimer, Wolff & Donnell, LLP, Minneapolis, MN, for appellees, Appriva Medical, Inc., et al.; ev3, Inc.; and ev3 Sunnyvale, Inc.

Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.


HOLLAND, Justice.

This litigation arises out of the acquisition of Appriva Medical, Inc. by Microvena Corporation. Two separate lawsuits were filed in the Superior Court. One was filed by Dr. Michael Lesh, the largest former holder of Appriva Medical Shares (the "Lesh Action"). The second was filed by Appriva Shareholder Litigation Company ("ASLC"), a California LLC formed by former shareholders of Appriva, including Erik van der Burg (the "ASLC Action"). The complaints...

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