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GIATRAS v AZURIX Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 18,464, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY IN THE STATE OF DELAWARE, Plaintiff: GIATRAS, State: DE Delaware, UniqueCaseRef: DE>CC>00018464, Azurix, Enron, Stockholders, Common, Stock, Control, John, Complaint, Acquisition, Shareholders, Transaction, Unfair, Proper, Duties, Damages, Adequate, Unfair Price, Allegations, Shares, Chairman, Owe, Highest Obligations, Faith, Fair Dealing , ContentID: 120240045

Case Documents
1 2000-10-27 SHAREHOLDERS CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 100751
7 pages
PDF
Total Documents: 1 document , 7 pages
Price: $ 19.95


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1 . SHAREHOLDERS CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
AZURIX
PLAINTIFF
ENRON
STOCKHOLDERS
COMMON
STOCK
MEMBERS
CONTROL
JOHN
COMPLAINT
ACQUISITION
SHAREHOLDERS
TRANSACTION
LAW
UNFAIR
PROPER
DUTIES
DAMAGES
ADEQUATE
UNFAIR PRICE
COUNSEL
ALLEGATIONS
SHARES
CHAIRMAN
OWE
HIGHEST OBLIGATIONS
FAITH
FAIR DEALING
COURT
        /-J
,&p  ,T  c                                                                             1
         4 4
        b----,  i
?),C                                                                                   J
\-                   IN THE COURT OF CHANCERY IN THE STATE OF DELAWARE
                                    l.bI AND FOR NEW CASTLE COUNTY

        ..-------------------------------------x

        TROY GIATRAS,

                                         Plaintiff,

                       -against-                                   Civil Action No.

        AZURIX CORP.,  :HERBERT  S. WINOKUR, JR., :
 [JOHN  H. DUNCAN, JOHN  WAKEHAM,
        ;JOSEPH W. SUTTON, KENNETH L. LAY,
        (JEFFREY K. SKILLING, and ENRON CORP.               :

                                         Defendants.

                                                            X

                             SHAREHOLDER'S CLASS ACTION COMPLAINT
                             -      -
                      Plaintiff, by his attorneys, for his complaint against

        defendants,         alleges upon personal knowledge with respect to

        paragraph 2, and upon information and belief based, inter alia
                                                                            -___ -     I
        upon the investigation of counsel, as to all other allegations

        herein, as follows:

                                           NATURE OF THE ACTION

                      1.     This is a stockholders' class action on behalf of

        the public stockholders of Azurix Corp. ("Azurix" or the "Company")

        to en:join the propcsed  acquisition of the publicly owned shares of

        Azurix's common stock by its controlling shareholder, defendant

        Enron Corp. ("Enron")  .

SNIPPETS:
  • SHAREHOLDER'S CLASS ACTION COMPLAINT
  • Plaintiff, by his attorneys, for his complaint against
  • upon the investigation of counsel,
  • the public stockholders of Azurix Corp.
  • Azurix's common stock by its controlling shareholder,
  • Enron Corp..
  • He is alsio Vice Chairman of the Board of Enron.
  • The defendants named in paragraphs 5 through 10 (the
  • plaintiff and the other public stockholders of Azurix and owe them
  • the highest obligations of good faith and fair dealing.
  • CLASS ACTION ALLEGATIONS
  • ,action is brought is so numerous that joinder of all Class members
  • There are questions of law and fact which are common
  • shareholders' interest in Azurix.
  • offered to acquire all of the outstanding shares of Azurix,
  • transaction is unconscionable and unfair and grossly inadequate because, among other things,
  • securities in the proposed acquisition given the stock's current
  • to Azurix stockholders by using their control of Azurix to force
  • :lefendants have also breached the duties of loyalty and due care by
  • relinquish their shares in the acquisition at an unfair price on
  • Plaintiff has no adequate remedy at law.
  • declaring this to be a proper class action;
  • rescinding the same or awarding rescissory damages
  • F. granting such other and further relief as the Court
  •    |