Full Press Release Details
| GRANTED | ||
| IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE |
| ERIK SCHMIDT, on behalf of himself and all other similarly situated stockholders of BIOSCRIP, INC., | |
| Plaintiff, | |
| v. | C.A. No. 2019-0430-SG |
| R. CARTER PATE, DANIEL E. GREENLEAF, DAVID GOLDING, MICHAEL GOLDSTEIN, CHRISTOPHER SHACKELTON, MICHAEL G. BRONFEIN and STEVEN NEUMAN, | |
| Defendants. |
AND [PROPOSED] ORDER CLOSING THE CASE
on August 7, 2019, the Court entered an order in the above action (the "Action") which, among other things, voluntarily
dismissed the Action as moot, and retained jurisdiction solely for the purpose of determining Plaintiff's counsel's
application for an award of attorneys' fees and reimbursement of expenses ("Plaintiff's Fee Application");
the parties have reached an agreement to resolve Plaintiff's Fee Application with a payment to Plaintiff's counsel
on behalf of BioScrip, Inc. (now known as Option Care Health, Inc. ("Option Care"));
the Court has not and will not pass judgment on the amount of the fee; and
a form of notice (the "Notice") disclosing the agreement and the fee is to be filed by Option Care in a Form 8-K to
be filed with the Securities and Exchange Commission ("SEC") no later than December 31, 2019;
IS HEREBY STIPULATED AND AGREED, pursuant to Rules 23(e) and 41(a) of the Rules of the Court of Chancery, subject to the approval
Counsel for Defendants shall cause the Notice, substantially in the form annexed hereto as Exhibit A, to be filed by Option Care
in a Form 8-K to be filed with the SEC no later than December 31, 2019;
Upon compliance with paragraph 1 herein, the Defendants shall file an affidavit (the "Affidavit") with the Court (no
later than five (5) business days after the Notice has been disseminated by Option Care in the Form 8-K) stating that paragraph
1 has been complied with;
Upon the filing of the Affidavit:
a. The Court will no longer retain jurisdiction over the Action; and
b. The Action will be closed for all purposes.
Option Care or its designee shall pay Plaintiff's counsel fees in the amount of $200,000 within ten (10) days of the date
of the entry of this Order to an account designated by Plaintiff's counsel.
| /s/ Blake A. Bennett | |
| Blake A. Bennett (#5133) | |
| Of Counsel: | COOCH AND TAYLOR, P.A. |
| The Nemours Building | |
| D. Seamus Kaskela | 1007 N. Orange Street, Suite 1120 |
| KASKELA LAW LLC | Wilmington, DE 19801 |
| 18 Campus Boulevard, Suite 100 | (302) 984-3800 |
| Newtown Square, PA 19073 | |
| (888) 715-1740 | Counsel for Plaintiff |
| /s/ Brock E. Czeschin | |
| Gregory Williams (#2168) | |
| Of Counsel: | Brock E. Czeschin (#3938) |
| John M. O'Toole (#6448) | |
| Adam H. Offenhartz | Kevin M. Regan (#6512) |
| Shireen A. Barday Mark H. Mixon, Jr. | RICHARDS, LAYTON & FINGER, P.A. One Rodney Square |
| GIBSON, DUNN & CRUTCHER LLP | 920 North King Street |
| 200 Park Avenue | Wilmington, Delaware 19801 |
| New York, N.Y. 10166 | (302) 651-7700 |
| (212) 351-4000 | |
| Counsel for Defendants | |
| Dated December 20, 2019 |
APPROVED AND SO ORDERED,
this _____ day of ________, 20.
| This document constitutes a ruling of the court and should be treated as such. | |
| Court: | DE Court of Chancery Civil Action |
| Judge: | Sam Glasscock |
| File & Serve Transaction ID: | 64548992 |
| Current Date: | Dec 20, 2019 |
| Case Number: | 2019-0430-SG |
| /s/ Judge Glasscock, Sam |