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Stockholder alleges The Female Health Company, officers violated law

By Louie Torres | Dec 22, 2016

CHICAGO (Legal Newsline) — An Illinois stockholder is suing a Wisconsin corporation and its officers, alleging breach of duty and violation of federal law.

Martin Glotzer filed a class action complaint, individually and on behalf of all others similarly situated in November in Cook County Circuit Court against The Female Health Company, and officers O.B. Parrish, William Gargiulo, Jr., Donna Felch, David Bethune, Andrew Love, Mary Margaret Frank, Sharon Meckes, Elgar Peerschke, Mitchell S. Steiner, Harry Fisch, Georges Makhoul, Mario Eisenberger and Lucy Lu, alleging they approved an illegal merger. 

According to the complaint, Glotzer suffered monetary damages as the result of Female Health Company's merger with Aspen Park Phamaceuticals. The plaintiff alleges the defendants completed the merger without approval of the shareholders.

The defendant removed the case to U.S. District Court for the Northern District of Illinois on Dec. 9. 

Glotzer seeks damages, declaration of this case as a class action, equitable and/or injunctive relief, court costs and all further relief the court grants. He is represented by attorneys Clinton A. Krislov and Matthew T. Peterson of Krislov & Associates LTD in Chicago.

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