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JOHNSON v. GLASSMAN

No. A-2074-06T2

950 A.2d 215 (2008)

401 N.J. Super. 222

Carl JOHNSON and Jerry Foster, Derivatively On Behalf of Bradley Pharmaceuticals, Inc., Plaintiffs-Appellants, v. Daniel GLASSMAN, Iris Glassman, Bradley Glassman, R. Brent Lenczycki, C. Ralph Daniel, III, Steven Kriegsman, Alan Wolin, Andre Fedida, Michael Fedida and Michael Bernstein, Defendants-Respondents, and Bradley Pharmaceuticals, Inc., a Delaware Corporation, Nominal Defendant.

Superior Court of New Jersey, Appellate Division.

Decided March 5, 2008.

Attorney(s) appearing for the Case

Steven J. Simerlein, San Diego, CA (Robbins Umeda & Fink) of the California bar, admitted pro hac vice, argued the cause for appellants (Kleeblatt, Galler & Abramson, and Mr. Simerlein, attorneys; Richard P. Galler, Mr. Simerlein and Jeffrey P. Fink (Robbins, Umeda & Fink) of the California bar, admitted pro hac vice, on the brief).

Jamie A. Levitt, New York City (Morrison & Foerster) of the New York bar, admitted pro hac vice, argued the cause for respondents (Epstein Becker & Green, and Ms. Levitt, attorneys; James P. Flynn, Lauren D. Daloisio, Ms. Levitt, Jack C. Auspitz (Morrison & Foerster) and Damion K.L. Stodola (Morrison & Foerster) both of the New York bar, admitted pro hac vice, on the brief).

Before Judges PAYNE, SAPP-PETERSON and MESSANO.

The opinion of the court was delivered by

PAYNE, J.A.D.

Plaintiffs, Carl Johnson and Jerry Foster, suing derivatively on behalf of Bradley Pharmaceuticals, Inc., appeal from the dismissal with prejudice of their consolidated actions against Bradley's officers and its Board of Directors1 as the result of plaintiffs' failure to adequately plead that, because of their lack of independence and interest in the transactions at issue...

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