IN RE PHC, INC. SHAREHOLDER LITIGATION

No. 13-2273.

762 F.3d 138 (2014)

In re PHC, INC. SHAREHOLDER LITIGATION MAZ Partners LP, on behalf of itself and all others similarly situated; Peter Blakeslee, individually and on behalf of all others situated, Plaintiffs, Appellants, v. PHC, Inc.; Bruce A. Shear; Donald E. Robar; Douglas J. Smith; Howard W. Phillips; William F. Grieco; David E. Dangerfield; Acadia Healthcare Company, Inc.; and Acadia Merger Sub, LLC, Defendants, Appellees.

United States Court of Appeals, First Circuit.

August 6, 2014.


Attorney(s) appearing for the Case

Chet B. Waldman , with whom Patricia I. Avery , Natalie Mackiel , Wolf Popper LLP, David A.P. Brower , Brian C. Kerr , Brower Pivin PC, Norman Berman , Nathaniel L. Orenstein , Berman DeValerio , Patrick J. Sheehan and Whatley Kallas LLP were on brief, for appellants.

James H. Hulme , with whom Matthew Wright , Arent Fox LLP, Richard M. Zielinski , Leonard H. Freiman and Goulston & Storrs were on brief, for PHC Director defendants/appellees.

Before THOMPSON and SELYA, Circuit Judges, and McCONNELL, Jr., District Judge.


McCONNELL, JR., District Judge.

This stockholders' class action suit challenging the fairness of a corporate merger raises the issue of whether the district court precipitately granted summary judgment in light of plaintiffs' Rule 56(d) Affidavit outlining the discovery they needed to respond to the dispositive motion. After a thorough and careful review of the entire record, we find that plaintiffs should have been afforded the opportunity to conduct additional discovery...

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