- 7 -
controlled approximately 90 percent of the Nyclave market.
Also, Old Lorvic controlled approximately 80 percent of the
market for disposable surgical aspirators, and 40 percent of the
market for oral evacuators and a somewhat lesser percentage for
prophylaxis paste. In that connection, Old Lorvic's major
distributors accounted for more than 50 percent of its gross
sales.
Throughout the period, Richard Nemanick provided the
management of Scherer, on a monthly basis, with reports that
detailed Old Lorvic's top 10 products, including the sales
percentage change by month and year to date. Such reports
included sensitive information which incorporated data on
important customers, competitors, and Government regulations
affecting the market. In addition, he prepared profit plans
which included projections of future sales. He also prepared
annual budget reports which detailed its profit margins by
product line and by specific product. Richard Nemanick conducted
frequent telephone conversations with representatives from
Scherer and participated in company meetings at least twice a
year.
In late 1989, Scherer was acquired in a leveraged buyout by
Shearson Lehman Hutton Holdings, Inc. (Shearson Lehman).
Subsequently, pursuant to directions from Shearson Lehman,
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