OPKO Health, Inc. v. Lipsius
OPKO sought certiorari after the trial court refused to stay two Florida shareholder derivative suits in favor of an earlier-filed federal securities class action in the Southern District of Florida and consolidated Delaware derivative actions. The Third DCA granted certiorari and quashed the order, holding that the trial court departed from the essential requirements of law by failing to stay the later-filed Florida derivative suits, which arise from the same nucleus of facts and involve substantially the same parties and overlapping issues.
Key facts
- OPKO Health, Inc. sought certiorari to challenge the trial court's refusal to stay two Florida shareholder derivative suits filed against the company and its officers.
- An earlier-filed federal securities class action was pending in the Southern District of Florida, and consolidated Delaware derivative actions were also proceeding, all arising from the same factual circumstances.
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Why it matters
The opinion is a useful roadmap for moving to stay Florida litigation in favor of parallel federal or out-of-state proceedings, collecting the comity and priority cases and expressly confirming certiorari as the vehicle… — full analysis with a trial
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