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IN RE VASTAR RESOURCES Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 17,888, CourtCode: CC, CourtName: IN ITHE COURT OF CHANCERY OF THE STATE 0 Z;RELAWARE, UniqueCaseRef: DE>CC>00017888, Plaintiff: GIARRAPUTO, State: DE Delaware, Del, Fee, Settlement, Shareholders, Vastar, Proposed Settlement, Representatives, Expenses, Amoco, Corn, Transaction, Consolidatemareholders, Request, Special Committee, Vastar Resources, Lerach Llp, Numerosity, Certification, Reimbursement, Weiss Bershad Hynes, Commonality, Negotiations, Class Members, Reasonableness, Common Stock, Directors, Affiliates, Ofthe, Stock, Arc0, Pursuant, Chancery Rule, Scheduling Order, Controls, Merger Agreement, Arco, Fiduciary Duties, Price, Rights, Accordance , ContentID: 120239671

Case Documents
1 2000-10-03 ORDER AND FINAL JUDGMENT
[ see first page and extracted highlights below  ] ItemID: 100192
6 pages
PDF
2 2000-09-27 PLAINTIFFS BRIEF IN SUPPORT OF PROPOSED SETTLEMENT
[ see first page and extracted highlights below  ] ItemID: 102484
36 pages
PDF
3 2000-03-16 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 101298
6 pages
PDF
Total Documents: 3 documents , 48 pages
Price: $ 29.95


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1 . ORDER AND FINAL JUDGMENT

EXTRACTED KEY WORDS
SETTLEMENT
OFTHE
DEFENDANTS
PLAINTIFFS
CHANCERY RULE
SCHEDULING ORDER
MEMBERS
LAW
ATTORNEYS
REPRESENTATIVES
RIGHTS
PURSUANT
ACCORDANCE
PROVISIONS
FACTS
AFFILIATES
MERGER
EXECUTORS
SUSPECT
DIRECTORS
THEMERGER AGREEMENT
UNITED STATES
HEREBY
COMMON STOCK
AFORESAID SCHEDULING ORDER
TIE
MATTER
OFTBE
DEFENSES
OCT-03-00 TUE 02~48 PM                                              FAX NO,
;irOEj r,!CWiX, LAYTOll k         FIYGEI; $13            :TUE) 10. 3'03 :3:31/K.



                             IN `ITHE  COURT OF CHANCERY  OF THE STATE 0% Z;rELAwARE
                                         1N AND FOR NEW CASTLE COUNTY


         IN RE VASTAR  RESOURCES, INC.                                  CONSOLlIIATED
         SHAREHOLDERS LITIGATION                                        Civil Action No. 17888
                                                                                                   


                   A hearing having been held before this Court on October 3, 2000, pursuant to tis

         Order of August 11, 2000 (the "Schedulirq  Order"), upon a Stipulation and Agmment of

         Coxzpromise  and Settlemenl  axd Release,  dnted  August 9, ZOO0 (the "Stipulation" or

         of the abovc-captiuncd  action (the "Action"). which is incorporated herein by reference;

         that due notice of said hearing has been given in accordance with the aforesaid Scheduling

         respective parties having appeared by their attorneys of record; the COM hating  heard and

         considered evidence in support of the proposed Settlen~~nt; the attorneys for the

         havina been heard; an opportunity having been given to al1 otiw perwns  requesting to be

          accordance with the Scheduling Order; the Court having  determined  thhat notice  to the

          defined ~II the Scheduling Order) certitied  in tie Action pursuant to the aforesaid

          was sdcquate  and sufkient; and the entire matter oftbe proposed Settlement having been

          considered by the Court:

                   IT IS HEREBY  ORDERED, ADrUDGED  AND DECREED this&day of October 2000,

          that:

                    1. This Action has bsw properly rIJtiltained  as a class;action  pursuant to

          Chancery Rule 2:1,

                   2. Each of the yrovislons  of Court of Chancery Rule 23(a) has been satisfied

          RISl.7.16Sl11-6
SNIPPETS:
  • A hearing having been held before this Court on October 3, 2000, pursuant to tis Court's
  • Coxzpromise and Settlemenl axd Release, dnted August 9, ZOO0 (the "Stipulation" or
  • that due notice of said hearing has been given in accordance with the aforesaid Scheduling
  • considered evidence in support of the proposed Settlen~~nt; the attorneys for the respective
  • IT IS HEREBY ORDERED, ADrUDGED AND DECREED this&day of October 2000,
  • Each of the yrovislons of Court of Chancery Rule 23has been satisfied and the
  • Action ha3 been properly mkiutained according to the provisions of Court of Chancery Rule 23.
  • desig.nated kl the Scheduling Order) are typical afthc claims or defenses of the Class,
  • represent&c Plaintiffs fairly and adequately protect and represent the intarests of the Class.
  • on behalf of a class consisting of all persons or entities (other than Defendants and
  • Affiliates as defined hereiu) xyho were record or beneficial OWIWS oFsharcs ofthe common
  • Inc. (the "V;wtar common stock") at any time during the perind
  • Company including any and i211 of their respective predecessors, trustees, executors,
  • by each and all members ofthe Class.
  • The Settled ClairoY are all claimi;, demands, rights,
  • each, -and all of their respective past, present or future officers, directors, stockholders,
  • allegations, facts, events, transactions, acts, occurrences, sratements, representations,
  • misreyresentation~, omissions or any other matter, thing or cause whatsoever, or any se&
  • at any time in the Consolidated Action, the T&al Proposal, theMerger Agreement, the Merger:
  • public statements) by Defendants or thei< representatives in connection with the initial
  • Class shall be deemed to have waived any and all provisions, rights and benefits conferred by
  • oftha United States or any state or territory of the United States, or prllciple of common
  • of $ 1542 oftbe California Civil Code which provides:
  • not know or suspect to exist in his favor at the time of executing the
  • in tie aggregate amount of ?a.

  • 2 . PLAINTIFFS BRIEF IN SUPPORT OF PROPOSED SETTLEMENT

    EXTRACTED KEY WORDS
    DEL
    COUNSEL
    FEE
    SETTLEMENT
    COURT
    SHAREHOLDERS
    LITIGATION
    PROPOSED SETTLEMENT
    VASTAR
    REPRESENTATIVES
    EXPENSES
    ATTORNEYS
    CORN
    AMOCO
    CONSOLIDATEMAREHOLDERS
    REQUEST
    SPECIAL COMMITTEE
    TRANSACTION
    VASTAR RESOURCES
    LERACH LLP
    NUMEROSITY
    CERTIFICATION
    DEFENDANTS
    REIMBURSEMENT
    WEISS BERSHAD HYNES
    COMMONALITY
    NEGOTIATIONS
    CLASS MEMBERS
    REASONABLENESS
    
                                           ORIGINAL                                       /1?
                IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE                         ljs
                                                                                          ,
    
                              IN AND FOR NEW CASTLE COUNTY
    
    -
    IN RE  VASTAR RESOURCES, INC. CONSOLIDATED
    SHAREHOLDERS' LITIGATION CIVIL ACTION NO.  17888-NC
    
    
    
           PLAINTIFFS' BRIEF IN SUPPORT OF PROPOSED SETTLEMENT AND
    APPLICATION FOR ATTORNEYS' FEES AND REIMBURSEMENT OF EXPENSES
    
                                       ROSENTHAL MONHAIT GROSS
                                       & GODDESS, P.A.
                                       Norman M. Monhait
                                       Mellon Bank Center, Suite 1401
                                       P.O. Box 1070
                                       Wilmington, Delaware  19899
                                       (302) 656-4433
    
                                       CHIMICLES & TIKELLI!<  LLP
                                       Pamela S. Tikellis
                                       One Rodney Square
                                       P.O. Box 1035
                                       Wilmington, Delaware 19899 ,               ; -i
                                       (302) 656-4433
    
                                       Delaware Liaison Counsel for Plaintiffs
    OF COUNSEL:
    
    BERNSTEIN LIEBHARD  & LIFSHITZ, LLP
    10 East 4,Oth Street
    New York, NY 10016
    (212) 779-1414
    
    MILBERG WEISS BERSHAD HYNES
      & LERACH LLP
    One Pennsylvania Plaza
    New York, NY 10119-0165
    (212) 594-5300
    
    Co-Leadl Counsel for Plaintiffs
    
    
    September 27, 2000
    
    
    SNIPPETS:
  • IN RE VASTAR RESOURCES, INC. CONSOLIDATED SHAREHOLDERS' LITIGATION CIVIL ACTION NO. 17888-NC
  • PLAINTIFFS' BRIEF IN SUPPORT OF PROPOSED SETTLEMENT AND APPLICATION FOR ATTORNEYS' FEES AND
  • MILBERG WEISS BERSHAD HYNES & LERACH LLP
  • Co-Leadl Counsel for Plaintiffs
  • Commonality
  • E. Certification Is Proper Under Court
  • &l!ied Artists Pictures Corn.
  • Braunchschweiger v. American Home Shield Corp., Del.
  • BP Amoco, p.1.c.
  • (the "Proposed Transaction").
  • (except defendants and their a,ffiliates)
  • the Proposed Transaction to representatives of the defendants,
  • Amoco and the Special Committee, and as a result of these triangular negotiations, BP Amoco
  • in prosecuting and resolving the Action, merits approval of plaintiffs' counsels' fee request
  • totally arm's-length and is reflected in the fee application now before the Court.
  • a>ASS CERTIFICATION IS PROPER IN THIS CASE
  • the numerosity requirement of Rule 23is
  • Th'e representative plaintiffs were confronted with the same injury as other Class members,
  • &erstate E%ancom Consolidatemareholders Litigation, Del.
  • and reasonableness, the Court's scrutiny can be less intensive.

  • 3 . CLASS ACTION COMPLAINT

    EXTRACTED KEY WORDS
    VASTAR
    PLAINTIFF
    MEMBERS
    AMOCO
    STOCK
    TRANSACTION
    ARC0
    SHAREHOLDERS
    COMMON STOCK
    CONTROLS
    MERGER AGREEMENT
    ARCO
    FIDUCIARY DUTIES
    DIRECTORS
    PRICE
    AFFILIATES
    REASON
    BREACH
    PUBLIC STOCKHOLDERS
    LAW
    BUSINESS
    RELIEF
    DAMAGES
    COMMITTEE
    KNOWLES
    COMPLAINT
    PURSUANT
    OIL COMPANIES
    MINORITY SHAREHOLDERS
    
           .;,, `.>,     \z
            ,/::A,
    ..' ,, ; I                                                                             !
                               IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                                          IN AND FOR NEW CASTLE COUNTY
    
                  ------------------m-----------------------x
                  HELENE GIARRAPUTO,                              ::
                                            Plaintiff,            ::
                                 - against -                      ::
                  JIMMIE D. CALLISON, TERRY G. DALLAS,
                  CHARLES D. DAVIDSON, MARIE L. KNOWLES, :
                  ROBERT C. LEVINE, WILLIAM D. SCHULTE, :
                  STEVEN J. SHAPIRO, DONALD R. VOELTE, JR.:
                  MICHAEL E. WILEY, VASTAR RESOURCES, INC.:
                  ATLANTIC RICHFIELD COMPANY,and BP AMOCO,:
                                                                  :
                                            Defendants.           :
                  ---------------------------------------x
    
                                                CLASS ACTION COMPLAINT
                                 Plaintiff, by her attorneys, Rosenthal, Monhait, Gross
                  & Goddess, P.A., for her complaint against defendants, alleges
                  upon information and belief, except for paragraph 2 hereof, which
                  is alleged upon knowledge, as follows:
                                 1.    Plaintiff brings this action pursuant to Rule 23
                  of the Rules of the Court of Chancery on her behalf and as a
                  class action on behalf of all persons, other than defendants and
                  those in privity with them, who own the common stock of Vastar
                  Resources, Inc. ("Vastar" or the "Company").
                                 2.    Plaintiff has been the owner of the common stock
                  of the Company since prior to the transaction herein complained
                  of and continuously to date.
                                 3.    Defendant Vastar is a corporation duly organized
                  and existing under the laws of the State of Delaware.        The
                  Company finds, develops and produces natural gas and liquid
    
    
    
    hydrocarbons primarily in the Gulf of Mexico, the Gulf Coast,
    Rocky Mountains and Mid-Continent areas. The Company maintains
    its principal offices at 15375 Memorial Drive, Houston, Texas.
              4.     Defendant Atlantic Richfield Company ("ARCOn),
    together with its affiliates, owns or controls approximately
    81.9% of the Company's outstanding common stock.    ARC0 is one of
    the world's largest oil companies.
              5.     Defendant BP Amoco plc ("BP Amoco")is a British
    corporation and has recently entered into a definitive merger
    agreement with ARCO. Pursuant to this merger agreement, BP Amoco
    
    SNIPPETS:
  • CHARLES D. DAVIDSON, MARIE L. KNOWLES,:
  • MICHAEL E. WILEY, VASTAR RESOURCES, INC.:
  • Plaintiff, by her attorneys, Rosenthal, Monhait, Gross
  • & Goddess, P.A., for her complaint against defendants, alleges
  • Plaintiff has been the owner of the common stock
  • Defendant Atlantic Richfield Company, together with its affiliates, owns or controls
  • Defendant BP Amoco plc is a British corporation and has recently entered into a definitive
  • Pursuant to this merger agreement, BP Amoco has the right to acquire the minority interests
  • BP Amoco stands in the place of ARC0 and has assumed ARCO's fiduciary duties to the minority
  • The individual defendants constitute the Board of Directors of Vastar and, by reason of their
  • The class is so numerous that joinder of all members is impracticable.
  • There are questions of law and fact which are common to the class including,
  • law duties owed by them to plaintiff and the members of the class; whether defendants are g with respect to the plaintiff and the other members of the class; and whether the class is
  • Defendants have acted in a manner which affects plaintiff and all members of the class,
  • Under the transaction as presently proposed, the Company's public shareholders would receive
  • In response to BP Amoco's offer, the Company announced that it had formed a committee of
  • Furthermore, the proposed buyout price of $71.00 per share represents only a modest premium
  • The price of $71.00 per share to be paid to the class members is unconscionable, unfair and ckholders of Vastar; and the $71.00 per share price is not the result of arm's length negotiations
  • By reason of the foregoing acts, practices and course of conduct, ARC0 and BP Amoco have
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