Shareholders Seek To End SeraCare’s Ch. 11 Control

Law360, New York (July 7, 2006, 12:00 AM EDT) -- SeraCare Life Sciences Inc.’s shareholders, who have repeatedly challenged the company’s bankruptcy filing, have requested the court terminate the company’s exclusivity period for its Chapter 11 proceedings.

The ad hoc group of equityholders, who own approximately 28.5% of SeraCare shares, told the U.S. Bankruptcy Court for the Southern District of California on Thursday that by denying the company’s motion to extend its exclusive control, the court would help set the course for SeraCare’s emergence from bankruptcy protection.

The shareholders claimed SeraCare has mismanaged many aspects of...
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