Class Action Suit Targets Abbey Acquisition
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Abbey Healthcare Group Inc. in Costa Mesa said Monday that a federal class action complaint had against the corporation, Chairman Timothy M. Aitken, former Abbey executive Victor M.G. Chaltiel, 10 other individuals and several investment companies, including Prudential Ventures Partners II, Sequoia Capital IV and the Sequoia Capital Growth Fund.
The complaint, filed in U.S. District Court in the Central District of California by Barbara Nowack, a registered shareholder of 100 shares, alleges violations of the securities laws during the course of Abbey’s acquisition of Total Pharmaceutical Care Inc. beginning in November, 1993, and seeks compensatory damages including interest, costs and other relief.
Abbey and Chaltiel, who operated Total Pharmaceutical before the merger, have been suing each other for the last several months ago in connection with that transaction.
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