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GLASSMAN v GILBERT Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 18,491, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: GLASSMAN, State: DE Delaware, UniqueCaseRef: DE>CC>00018491, Copper Mountain, Individual Defendants, Networks, Dsl, Act, Securities, Market, Clecs, Fiduciary Duties, Price, Gilbert, Shareholders, Directors, Misleading, Investors, Costs, Ilecs, Customers, Federal Securities, Class Action, Sdsl, Telecommunications Act, Competitive Carriers, Incumbent, Securities Fraud, Securities Fraud Litigation, Pay Substantial Defense, Multi-million Dollar Judgment , ContentID: 120240023

Case Documents
1 2000-11 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 100726
16 pages
PDF
Total Documents: 1 document , 16 pages
Price: $ 19.95


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1 . COMPLAINT

EXTRACTED KEY WORDS
INDIVIDUAL DEFENDANTS
NETWORKS
DSL
PLAINTIFF
ACT
SECURITIES
MARKET
CLECS
BUSINESS
FIDUCIARY DUTIES
PRICE
GILBERT
SHAREHOLDERS
DIRECTORS
MISLEADING
INVESTORS
COSTS
ILECS
CUSTOMERS
FEDERAL SECURITIES
CLASS ACTION
SDSL
TELECOMMUNICATIONS ACT
COMPETITIVE CARRIERS
INCUMBENT
SECURITIES FRAUD
SECURITIES FRAUD LITIGATION
PAY SUBSTANTIAL DEFENSE
MULTI-MILLION DOLLAR JUDGMENT
              IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                              IN AND FOR NEW CASTLE COUNTY
                                                                                                i
CAROL GLASSMAN,

               Plaintiff,

vs.

RICHARD S. GILBERT, JOSE:PH D.                 >
MANKEE, ROBERT L. BAILEY, TENCH  )                      COMPLAINT
COX, ROGrER  EVANS, RICHARD H.
KIMBALL, RAYMOND V. THOMAS,                    ;
AND ANDREW W. VERHALEN,
                                               i
               Defendants,                     >
and
                                               i
COPPER MOUNTAIN NETWORKS, INC.,  )
                                               >
               Nominal Defendant.              >



       Plaintiff alleges upon personal knowledge as to herself and her own acts, and on

information and belief as to all other matters, as follows:

                                   NATURE OF THE ACTION

        1.     In violation of their fiduciary duties owed to the Company and its shareholders, the

individual defendants, who constitute the Board of Directors of Copper Mountain Networks, Inc.

("Cooper Mountain" or the "Company"), caused the Company to issue false and misleading

statements to Copper Mountain's shareholders and investors which inflated the price of Copper

Mountain's securities and caused it to be named as a defendant in federal securities fraud

litigation. `The exposure to this, securities fraud litigation has caused and will cause the Company

to incur and pay substantial defense related costs and a possible multi-million dollar judgment

and/or settlement.



       2.      Plaintiff brings this action derivatively in the right and for the benefit of Copper
SNIPPETS:
  • Plaintiff alleges upon personal knowledge as to herself and her own acts,
  • In violation of their fiduciary duties owed to the Company and its shareholders,
  • individual defendants, who constitute the Board of Directors of Copper Mountain Networks, Inc.
  • statements to Copper Mountain's shareholders and investors which inflated the price of Copper
  • Mountain's securities and caused it to be named as a defendant in federal securities fraud
  • securities fraud litigation has caused and will cause the Company
  • to incur and pay substantial defense related costs and a possible multi-million dollar
  • Delaware and maintains its principal place of business at 2470 Embarcadero Way, Palo Alto,
  • actively traded on the NASDAQ National Market.
  • infrastructure to deliver high speed data and voice services to their customers.
  • Defendant Richard Gilbert is Copper Mountain's President,
  • Officer and Chairman of the Board of Directors.
  • The Telecommunications Act of 1996 permitted competitive carriers to use the
  • existing infrastructure established by incumbent carriers, as opposed to building a competing
  • Copper Mountain builds and sells its DSL products primarily to competitive,
  • CLECs provide additional competition to ILECs,
  • Copper Mountain's DSL providers are sold to CLECs and ILECs;
  • "Our financial execution was matched by product development progress as we released both a
  • were false and misleading at thse time they were made and that their issuance would expose the
  • Company to substantial liability under the federal securities laws.
  • The Class Action alleges that the Company
  • E. Awarding plaintiff the costs and disbursements of this action,
  •    |