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TAAM ASSOCIATES v INTERMEDIA COMMUNICATIONS Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 18,291, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: TAAM ASSOCIATES, State: DE Delaware, UniqueCaseRef: DE>CC>00018291, Digex, Intermedia, Worldcorn, Shareholders, Stock, Merger, Executive Offices, Outstanding Shares, Controls, Delaware, Complaint, Directors, Public Shareholders, Common, Market, Price, Acting, Sales, Exodus, Closing, Contemplated Transaction, Reason, Breaching, Communications, Principal Executive Offices, Websites , ContentID: 120240168

Case Documents
1 2000-09-05 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 100907
10 pages
PDF
Total Documents: 1 document , 10 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
INTERMEDIA
DEFENDANTS
PLAINTIFF
WORLDCORN
SHAREHOLDERS
MEMBERS
STOCK
MERGER
EXECUTIVE OFFICES
OUTSTANDING SHARES
CONTROLS
DELAWARE
COMPLAINT
DIRECTORS
PUBLIC SHAREHOLDERS
COMMON
MARKET
PRICE
ACTING
SALES
EXODUS
CLOSING
CONTEMPLATED TRANSACTION
REASON
BREACHING
COURT
COMMUNICATIONS
PRINCIPAL EXECUTIVE OFFICES
WEBSITES
            IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                         IN AND FOR NEW CASTLE COUNTY


TAAM ASSOCIATES,

                     Plaintiff,

      -against-                                 : Civil Action No. y&qT'i  kc/

INTERMEDIA COMMUNICATIONS
INC., DAVID  '2.  RUBERG, PHILIP
A. CAMPBELL, JOHN C. BAKER,
GEORGE F. KNAPP, JACK E.
REICH, MARK K. SHULL, ROI3ERT
M. MANNING, RICHARD A.
JALKUT, DIGEX, INC. and
WORLDCOM, INC.

                     Defendants.

_  _  _  -  -  -  -  -  - -  -  -  -  -  - -  - -X


                             CIJiSS ACTION COMPLAINT

              Plaintiff, by its attorneys, alleges upon information and

belief, except as to paragraph 1 which plaintiff alleges upon

knowledge, as follows:

              1.     Plaintiff Taam Associates is a              shareholder of

defendant Digex, Inc. ("Digex").

              2.     Defendant Digex is a Delaware corporation with

principal executive offices located at One Digex Plaza, Beltsville,

Maryland       20705.       Digex provides  website hosting services to

business      and    organizations        implementing     complex,    interactive

websites and web-based applications.

              3.     Defendant         Intermedia         Communications      Inc.

("Intermedia" or the "Company") is a Delaware corporation with
SNIPPETS:
  • IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
  • INTERMEDIA COMMUNICATIONS INC., DAVID '2.
  • CIJiSS ACTION COMPLAINT
  • Plaintiff, by its attorneys, alleges upon information and
  • defendant Digex, Inc..
  • principal executive offices located at One Digex Plaza, Beltsville,
  • websites and web-based applications.
  • Intermedia owns approximately 62.0% of Digex's outstanding shares
  • and controls approximately 94.2% of the voting interest in Digex.
  • Defendant WorldCorn,
  • Board of Directors.
  • The individual defendants, as officers and/or
  • plaintiff and the other public shareholders of Digex and owe to
  • Chancery, on behalf of all common shareholders of Digex, or their
  • members is impracticable.
  • Digex announced that second quarter 2000 sales more
  • Intermedia's stock and t`ne upswing in the market price of Digex
  • including one from Exodus Communications Inc.
  • had each approved a definitive merger agreement whereby WorldCorn
  • shares based on the closing price before the announcement.
  • acting through and/or with the support
  • The only reason for WorldCorn to
  • defendants have breached and are breaching their fiduciary duties
  • In the event the contemplated transaction is
  •    |