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YASSIN v INTERMEDIA COMMUNICATIONS Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 18,290, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: YASSIN, State: DE Delaware, UniqueCaseRef: DE>CC>00018290, Digex, Intermedia, Worldcorn, Shareholders, Executive Offices, Stock, Delaware, Outstanding Shares, Controls, Directors, Public Shareholders, Merger, Common, Acting, Damages, Adequate, Representing, Relief, Adjudications, Market Price, Reason, Breaching, Voting, President, Chief, Faith , ContentID: 120240169

Case Documents
1 2000-09-05 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 100908
9 pages
PDF
Total Documents: 1 document , 9 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
INTERMEDIA
DEFENDANTS
PLAINTIFF
MEMBERS
WORLDCORN
SHAREHOLDERS
EXECUTIVE OFFICES
STOCK
DELAWARE
OUTSTANDING SHARES
CONTROLS
DIRECTORS
PUBLIC SHAREHOLDERS
MERGER
COMMON
ACTING
DAMAGES
ADEQUATE
REPRESENTING
RELIEF
ADJUDICATIONS
MARKET PRICE
REASON
BREACHING
COURT
VOTING
PRESIDENT
CHIEF
FAITH
           IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                            IN AND FOR NEW CASTLE COUNTY

._  _  -  _  -  _  -  -  _.  -  -  ._  -  -  - -  - -x

MOHAMED YASSIN,

                       Plaintiff,

       -against-                                            Civil Action No. 1 axoJQ-

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

                       Defendants.

_  _  ._  I  _  -  -  _  .  .  -  _  _.  -  -  - -  - -;


                                 CLASS ACTION COMPLAINT

               Plaintiff, by his attorneys, alleges upon information and

belief, except as to paragraph  I which plaintiff alleges upon

knowledge, as follows:

               1.      Plaintiff Mohamed              Yassin 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         20'705.       Digex provides  website hosting services to

business       and organizations               implementing      complex,    interactive
websites and web-based applications.

               3.      DeEendant            Intermedia          Communications      Inc.
 ("Intermedia"  or the  "Company") is a Delaware corporation with

SNIPPETS:
  • IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
  • Plaintiff, by his attorneys, alleges upon information and
  • defendant Digex, Inc. "
  • principal executive offices located at One Digex Plaza, Beltsville,
  • ("Intermedia" or the "Company")
  • Intermedia owns approximately 62.0% of Digex's outstanding shares
  • and controls approximately 94.2% of the voting interest in Digex.
  • Board of Directors.
  • the President and Chief Executive Officer of Digex.
  • Defendant Robert M. Manning is a Director of Digex and the Chief Financial Officer of
  • The individual defendants, as officers and/or
  • plaintiff and the other public shareholders of Digex and owe to
  • Chancery, on be'half of all common shareholders of Digex, or their
  • members is impracticable.
  • There are questions of law and fact which are common to the Class, including: whether
  • inconsistent or varying adjudications with respect to individual
  • Intermedia's stock and the upswing in the market price of Digex
  • representing a significant premium for Digex stock,
  • jointly announced that the Boards of Intermedia, WorldCorn and Digex
  • had each approved a definitive merger agreement whereby WorldCorn
  • acting through and/or with the support
  • The only reason for WorldCorn to
  • faith toward plaintifE and the other members of the Class.
  • defendants have breached and are breaching their fiduciary duties
  • Plaintiff has no adequate remedy at law.
  • plaintiff prays for judgment and relief as
  • rescissory damages to the Class;
  •    |