Legal Opinion
HFTP Investments, L.L.C. v. ARIAD Pharmaceuticals, Inc.
Court of Chancery of Delaware
Decided December 9, 1999No. Civil Action 17501PublishedCited by 13 opinions
1Opinion of the Court
OPINION
JACOBS, Vice Chancellor.
Pending is a motion to stay this action brought by HFTP Investments, L.L.C., (“HFTP”) for injunctive, declaratory, and damage relief, against the defendant, AR-LAD Pharmaceuticals, Inc. (“ARIAD”). HFTP claims that ARIAD has wrongfully refused to honor HFTP’s right both to convert and to have redeemed shares of ARIAD Series C Convertible Preferred Stock (the “Preferred Stock”) that HFTP acquired for $3,000,000 in 1998.
HFTP filed this action on October 26, 1999. Thirteen minutes later, ARIAD filed an action (the “New York action”) against HFTP and its investment…
2Cases cited7 opinions
- McWane Cast Iron Pipe Corp. v. McDowell-Wellman Engineering Co.Supreme Court of Delaware · 1970
- Ison v. EI DuPont De Nemours and Co.Supreme Court of Delaware · 1999
- General Foods Corp. v. Cryo-Maid, Inc.Court of Chancery of Delaware · 1964
- Chrysler First Business Credit Corp. v. 1500 Locust Ltd. PartnershipSupreme Court of Delaware · 1995
- Draper v. Paul N. Gardner Defined Plan TrustSupreme Court of Delaware · 1993
2 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- In Re Citigroup Inc. Shareholder Derivative LitigationCourt of Chancery of Delaware · 2009
- Hamilton Partners, L.P. v. EnglardCourt of Chancery of Delaware · 2010
- Jewish Home for Elderly of Fairfield County, Inc. v. CantoreSupreme Court of Connecticut · 2001
- Friedman v. Alcatel AlsthomCourt of Chancery of Delaware · 1999
- Brandin v. DeasonCourt of Chancery of Delaware · 2007
8 more not listed; retrieve them via the Exa API.