Kearney v. Jandernoa

OPINION

QUIST, District Judge.

This case is a derivative action against, among others, officers and directors of Perri-go Company (“Perrigo”). Before this Court is a motion to dismiss filed by Defendants Henry L. Hillman and C.G. Grefenstette (“Hillman Defendants”).

In October of 1993, a secondary public offering was held of 13,000,000 shares of Perrigo stock. Plaintiffs bring this derivative suit against, among others, the Hillman Defendants on several grounds, including: 1) “breach of fiduciary duty in misappropriating and misusing internal proprietary non-public material adverse corporate…