IN RE SYNTHES, INC. SHAREHOLDER LITIGATION

Civil Action No. 6452.

50 A.3d 1022 (2012)

In re SYNTHES, INC. SHAREHOLDER LITIGATION.

Court of Chancery of Delaware.

Decided: August 17, 2012.


Attorney(s) appearing for the Case

Christine S. Azar, Esquire , Peter C. Wood, Jr., Esquire , Labaton Sucharow LLP, Wilmington, Delaware, Attorneys for Plaintiffs.

Christopher J. Keller, Esquire , Jonathan Gardner, Esquire , Matthew C. Moehlman, Esquire , Labaton Sucharow LLP, New York, New York; Robert M. Roseman, Esquire , Andrew D. Abramowitz, Esquire , Daniel J. Mirarchi, Esquire , Spector Roseman Kodroff & Willis, P.C., Philadelphia, Pennsylvania, Co-Lead Counsel for Plaintiffs.

Marc I. Gross, Esquire , Jason S. Cowart, Esquire , Gustavo F. Bruckner, Esquire , Matthew L. Tuccillo, Esquire , Pomerantz Grossman Hufford Dahlstrom & Gross LLP, New York, New York, Additional Counsel for Plaintiffs.

Gregory P. Williams, Esquire , Kevin M. Gallagher, Esquire , Christopher H. Lyons, Esquire , Richards, Layton & Finger, P.A., Wilmington, Delaware; Alan S. Goudiss, Esquire , Paula H. Anderson, Esquire , Shearman & Sterling LLP, New York, New York, Attorneys for Defendants Synthes, Inc., Hansjoerg Wyss, Robert Bland, Daniel Eicher, Charles Hedgepeth, David Helfet, Amin Khoury, Andre Mueller, Felix Pardo, Jobst Wagner, and Amy Wyss.


OPINION

STRINE, Chancellor.

I. Introduction

On this motion to dismiss, plaintiff stockholders argue that they have stated a claim for breach of fiduciary duty because a controlling stockholder refused to consider an acquisition offer that would have cashed out all the minority stockholders of the defendant Synthes, Inc., but required the controlling stockholder to remain as an investor in Synthes. Instead, the controlling stockholder worked...

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