Biotechnology Value Fund, L.P. et al v. Celera Corporporation et al

Filing 86

NOTICE RE ORAL ARGUMENT. Signed by Judge Alsup on 12/11/2013. (whalc2, COURT STAFF) (Filed on 12/11/2013)

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IN THE UNITED STATES DISTRICT COURT

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FOR THE NORTHERN DISTRICT OF CALIFORNIA
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For the Northern District of California

United States District Court

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BIOTECHNOLOGY VALUE FUND, L.P.,
BIOTECHNOLOGY VALUE FUND II,
L.P., INVESTMENT 10, L.L.C., BVF
INVESTMENTS, L.L.C.; BVF INC., and
BVF X, LLC,

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No. C 13-03248 WHA

NOTICE RE ORAL ARGUMENT

Plaintiffs,
v.

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CELERA CORPORATION, QUEST
DIAGNOSTICS INCORPORATED,
CREDIT SUISSE SECURITIES (USA)
LLC, KATHY ORDOÑEZ, RICHARD H.
AYERS, JEAN-LUC BELINGARD,
WILLIAM G. GREEN, PETER BARTON
HUTT, GAIL M. NAUGHTON, WAYNE
I. ROE, and BENNETT M. SHAPIRO,

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Defendants.

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/

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The Court has noticed that the amended complaint contains the following allegation
(Amd. Compl. ¶ 111):
First, the clear disparity between Credit Suisse’s prior probability
adjustments, which it presented to the Celera Board as recently as
February 3, 2011, and the substantially lower probability
adjustments underlying the erroneous analysis that were derived
from the same Tufts Study — which Credit Suisse presented to the
Board just over one month later, during its meetings of March 7
and 17, 2011 — either did alert, or should have alerted, the
Individual Defendants to Credit Suisse’s stark errors.
This allegation does not appear in plaintiffs’ briefs in opposing defendants’ two motions
to dismiss. For tomorrow’s hearing, counsel for both sides should be prepared to clarify whether

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this allegation remains operative or not. If possible, the Court would also like to see the “prior

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probability adjustments” that were presented to Celera’s board of directors on February 3, 2011.

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Dated: December 11, 2013.

WILLIAM ALSUP
UNITED STATES DISTRICT JUDGE

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For the Northern District of California

United States District Court

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