Word: cased
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Dates: during 1980-1989
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...judge did grant Paramount's motion for a ten-day stay of the Time-Warner merger while Paramount appeals to the Delaware Supreme Court, which agreed to consider briefs throughout this week and hear the final arguments in the case ! on July 24. The appeal prevented Time from purchasing 100 million of Warner's nearly 200 million shares in a $70-per-share tender that had been scheduled to expire this week. Time would acquire the remaining Warner shares later for cash and securities...
...reaching an almost unequivocal decision in the complex case, Allen dismissed a key Paramount claim, that Time's directors had put the company up for sale in March when they originally agreed to acquire Warner. If that had been found to be true, Time would have been obligated under Delaware law to seek the maximum immediate return to shareholders by auctioning the company to the highest bidder. Paramount's argument that Time's directors were selling the company to Warner rested partly on the fact that the exchange ratio of the proposed stock swap would have given Warner stockholders...
...another major point, Allen rejected Paramount's claim that Time acted improperly in revamping its Warner deal after the Paramount offer was made. The precedent in judging such tactics is a 1985 Delaware case involving an effort by the California oil company Unocal to escape a raid by takeover artist T. Boone Pickens. In that case, the court decided that companies may take defensive moves only if they are "reasonable," as Unocal's were deemed to be. Paramount argued that Time's decision to launch the tender offer for Warner was excessive in proportion to the takeover threat and thus...
...well. Like many other modern technological wonders, the artificial union of sperm and ovum to form a zygote, which is then frozen for eventual implantation in a woman's womb, has gone from the near miraculous to the almost mundane -- and ultimately to the moral dilemma. One current legal case addresses two of the key ethical questions raised by in vitro technology: Who should exercise primary rights over the frozen embryo? And what rights, if any, does the embryo have...
Last month a federal judge denied the Yorks' request for a preliminary injunction against the institute and ordered that the case be tried by a jury in the fall. The decision was a blow to the Yorks, for whom time is critical. Risa is 39, and the spontaneous abortion rate for in vitro implants increases dramatically in women beyond the age of 40. Also, the longest recorded freezing of an embryo that was later successfully implanted is 28 months; the Yorks' embryo has been in a cryogenic state for 24 months...