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the U.S. District Court for the Southern District of New York
approved a plan of distribution from Boesky’s disgorgement fund
to persons who sold old FMC stock from February 18 through April
4, 1986.
On or about August 5, 1992, petitioner filed a second
amended complaint (Second Amended Complaint). The Second Amended
Complaint generally contains the same 16 counts as the Complaint
and the First Amended Complaint, plus an additional common law
count. The Second Amended Complaint notes that petitioner's
securities law counts and its allegation that petitioner
sustained damages in excess of $235 million had been dismissed
but were alleged again to preserve petitioner's rights to seek
reconsideration of that dismissal and to appeal. Paragraph 94(b)
of the Second Amended Complaint alleges as "Adverse Financial
Consequences to FMC" that
The price of FMC's common stock was
wrongfully manipulated, causing FMC to revise
its initial recapitalization plan and pay
approximately $220 million more in cash than
FMC would have paid for its publicly held
common stock, tendered in response to FMC's
offer to purchase Old FMC Stock and to sell
New FMC Stock * * *
Subsequently, at the direction of Judge Pollack, petitioner filed
a revised Second Amended Complaint, omitting claims that had
previously been dismissed or settled.
On September 11, 1992, Goldman moved for summary judgment on
all of petitioner's remaining claims. For the limited purpose of
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