Collins & Aikman Corporation et al v. Stockman et al

Plaintiff: Collins & Aikman Corporation and Collins & Aikman Products Co.
Defendant: David A. Stockman, J. Michael Stepp, Bryce M. Koth, David R. Cosgrove, Paul C. Barnaba, Robert A. Krause, John A. Galante, Charles E. Becker, Elkin B. McCallum, Thomas E. Evans, Cynthia Hess, Daniel P. Tredwell, W. Gerald McConnell, Samuel Valenti, III, Heartland Industrial Partners LP, Heartland Industrial Associates LLC, Heartland Industrial Group LLC, PricewaterhouseCoopers LLP and KPMG LLP
 
Case Number: 1:2007cv00265
Filed: May 16, 2007
 
Court: Delaware District Court
Office: Wilmington Office
County: New Castle
Referring Judge: Mary Pat Thynge
Presiding Judge: Vacant Judgeship
 
Nature of Suit: Securities/Commodities
Cause of Action: 15:78m(a) Securities Exchange Act
Jury Demanded By: Plaintiff

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Date Filed#Document Text
May 20, 2009 176 Featured Case REPORT AND RECOMMENDATION: The Court recommends the following: 1.As Plaintiff has requested, Count I of the Complaint (D.I. 90 ) alleging violations of Section 10(b) of the Exchange Act and Rule 10b-5 be DISMISSED as against defendants Barnaba, Krau se, Becker, Evans, Hess, Tredwell, McConnell, Valenti, Galante, and Koth.2.The motions to dismiss Count I alleging violations of Section 10(b) of the Exchange Act and Rule 10b-5 as against defendants Stockman (D.I. 115 ), Stepp (D.I. 104 ), Cosgrov e (D.I. 97 ), and McCallum (D.I. 99 ) be DENIED.3.As Plaintiff has requested, Count II of the Complaint (D.I. 90 ) alleging violations of Section 14(a) of the Exchange Act and Rule 14a-9 be DISMISSED against all Director and Officer Defendants, i. e., defendants Stockman, Stepp, Cosgrove, Barnaba, McCallum, Krause, Becker, Evans, Hess, Tredwell, McConnell, Valenti, Koth, and Galante. 4.The motions to dismiss Count III alleging breach of fiduciary duty against defendants Stockman (D.I. 115 ), Stepp (D.I. 104 ), Cosgrove (D.I. 97 ), Barnaba (D.I. 128 ), and McCallum (D.I. 99 ) be DENIED. 5.The motions to dismiss Count III alleging breach of fiduciary duty against defendants Evans (D.I. 101 ), Hess (D.I. 131 ), Tredwell (D.I. 106 ), McConnell (D.I. 106 ), Valenti (D.I. 106 ), Krause (D.I. 118 ), Becker (D.I. 124 ), and the Heartland Entities (D.I. 110 ) be GRANTED.6.The motions to dismiss Count IV alleging unjust enrichment against defendants Becker (D.I. 124 ) and McCallu m (D.I. 99 ) be DENIED.7.The motions to dismiss Count IV alleging unjust enrichment against defendants Stockman (D.I. 115 ), Stepp (D.I. 104 ), Krause (D.I. 118 ), Cosgrove (D.I. 97 ), Barnaba (D.I. 128 ), Evans (D.I. 101 ), Hess (D.I. 131 ), Tredwell (D.I. 106 ), McConnell (D.I. 106 ), Valenti (D.I. 106 ), and the Heartland Entities (D.I. 110 ) be GRANTED.8.As Plaintiff has requested, Count V of the Complaint (D.I. 90 ) alleging common law fraud be DISMISSED as against defendants K rause, Becker, Evans, Hess, Tredwell, McConnell, and Valenti.9.The motions to dismiss Count V alleging claims for common law fraud against defendants Stockman (D.I. 115 ), Stepp (D.I. 104 ), Cosgrove (D.I. 97 ), Barnaba (D.I. 128 ), and McCallum (D.I. 99 ) be GRANTED. 10.The motions to dismiss Count VI alleging breach of express and implied contractual obligations against the Heartland Entities (D.I. 110 ) be GRANTED. 11.The motions to dismiss Count VII alleging claims for common law fraud against defendants PwC (D.I. 107 ) and KPMG (D.I. 120 ) be GRANTED. 12.The motion to dismiss Count VIII alleging claims for negligence/malpractice against defendant PwC (D.I. 107 ) be GRANTED. 13.The motion to dismiss Count IX alleging claims for negligence/malpractice against defendant KPMG (D.I. 120 ) be GRANTED. 14.The motion to dismiss Count X alleging a claim for breach of contract against defendant PwC (D.I. 107 ) be GRANTED. 15.The motion to dismiss Count XI alleging a claim for bre ach of contract against defendant KPMG (D.I. 120 ) be GRANTED. 16.The motions to dismiss Count XII alleging claims for aiding and abetting breaches of fiduciary duty against defendants PwC (D.I. 107 ) and KPMG (D.I. 120 ) be GRANTED. Please see R& R for further details. Objections to R&R due by 6/8/2009. Please note that when filing Objections pursuant to Federal Rule of Civil Procedure 72(b)(2), briefing consists solely of the Objections and the Response to the Objections. No reply in support of the Objections is permitted without leave of the Court. Signed by Judge Leonard P. Stark on 5/20/09. (ntl)
September 30, 2009 199 Featured Case MEMORANDUM ORDER accepting the 176 REPORT AND RECOMMENDATION, but for the recommendations as to counts VIII through XI, granting in part and denying in part 101 MOTION to Dismiss for Failure to State a Claim filed by Thomas E. Evans, granting in part and remanding for further review 120 MOTION to Dismiss for Failure to State a Claim Defendant KPMG LLP's Motion To Dismiss First Amended Complaint, granting in part and denying in part 104 MOTION to Dismiss for Failure to State a Claim (MOTION TO DISMISS THE FIRST AMENDED COMPLAINT), granting 106 MOTION to Dismiss for Failure to State a Claim, granting in part and denying in part 115 MOTION to Dismiss for Failure to State a Claim, granting 118 MOTION to Dismiss for Failure to State a Claim, granting 131 MOTION to Dismiss for Failure to State a Claim, granting 110 MOTION to Dismiss for Failure to State a Claim, granting in part and remanding for further review 107 MOTION to Dismiss Based upon Failure t o State a Claim., granting in part and denying in part 97 MOTION to Dismiss for Failure to State a Claim upon which relief can be granted and failure to allege fraud with particularity, denying 99 MOTION to Dismiss for Failure to State a C laim, granting in part and denying in part 128 MOTION to Dismiss for Failure to State a Claim -- Motion to Dismiss Plaintiffs' First Amended Complaint, granting in part and denying in part 124 MOTION to Dismiss Based upon Rules 8(a), 9(b) and 12(b) of the Federal Rules of Civil Procedure. SEE ORDER FOR FURTHER DETAILS. Signed by Judge Sue L. Robinson on 9/30/2009. (nmf)
January 19, 2010 212 Featured Case REPORT AND RECOMMENDATION TO GRANT re 120 MOTION to Dismiss IX AND XI for Failure to State a Claim Defendant KPMG LLP's Motion To Dismiss First Amended Complaint filed by KPMG LLP AND TO GRANT 107 MOTION to Dismiss COUNT VIII AND X Ba sed upon Failure to State a Claim. filed by PricewaterhouseCoopers LLP. Please note that when filing Objections pursuant to Federal Rule of Civil Procedure 72(b)(2), briefing consists solely of the Objections (no longer than ten (10) pages) and the Response to the Objections (no longer than ten (10) pages). No further briefing shall be permitted with respect to objections without leave of the Court. Objections to R&R due by 2/5/2010. Signed by Judge Leonard P. Stark on 1/19/2010. (rpg)
April 26, 2010 232 Featured Case MEMORANDUM ORDER accepting and adopting 212 REPORT AND RECOMMENDATIONS granting 120 MOTION to Dismiss for Failure to State a Claim Defendant KPMG LLP's Motion To Dismiss First Amended Complaint, granting 107 MOTION to Dismiss Based upon Failure to State a Claim. Signed by Judge Sue L. Robinson on 4/26/2010. (nmf)

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Plaintiff: Collins & Aikman Corporation
Represented By: Joseph A. Rosenthal
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Plaintiff: Collins & Aikman Products Co.
Represented By: Joseph A. Rosenthal
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Defendant: David A. Stockman
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Defendant: J. Michael Stepp
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Defendant: Bryce M. Koth
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Defendant: David R. Cosgrove
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Defendant: Paul C. Barnaba
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Defendant: Robert A. Krause
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Defendant: John A. Galante
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Defendant: Charles E. Becker
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Defendant: Elkin B. McCallum
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Defendant: Thomas E. Evans
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Defendant: Cynthia Hess
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Defendant: Daniel P. Tredwell
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Defendant: W. Gerald McConnell
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Defendant: Samuel Valenti, III
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Defendant: Heartland Industrial Partners LP
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Defendant: Heartland Industrial Associates LLC
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Defendant: Heartland Industrial Group LLC
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Defendant: PricewaterhouseCoopers LLP
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Defendant: KPMG LLP
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