OTTO v MCLAUGHLIN - Legal Case Documents


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OTTO v MCLAUGHLIN

Keywords & Phrases

CaseNo: C.A. No. 18,227, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: OTTO, State: DE Delaware, UniqueCaseRef: DE>CC>00018227, Infinity, Viacom, Stock, Shares, York, Price, Publicly-held, Control, Shareholders, Stockholders, Unfair, Fiduciary Duties, Common, Inadequate, Transaction, Officers, Outstanding, Karmazin, Complaint, Relevant Times, Breach, Directors, Grossly Inadequate, Growth, Profitability, Power, Report , ContentID: 120240212

Case Documents

2000-08-15

CLASS ACTION COMPLAINT
[ see first page and extracted highlights below ] ItemID: 100973

13 pages
PDF

Total Documents: 1 document , 13 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS

DEFENDANTS
VIACOM
STOCK
MEMBERS
PLAINTIFFS
SHARES
YORK
PRICE
PUBLICLY-HELD
CONTROL
SHAREHOLDERS
STOCKHOLDERS
UNFAIR
FIDUCIARY DUTIES
COMMON
INADEQUATE
TRANSACTION
OFFICERS
OUTSTANDING
KARMAZIN
COMPLAINT
RELEVANT TIMES
BREACH
DIRECTORS
GROSSLY INADEQUATE
GROWTH
PROFITABILITY
POWER
REPORT

                                                                               ERS' CLASS ACTION COMPLAINT

       Plaintiffs, by their attorneys, for their complaint against defendants, alleges upon

personal knowledge with respect to paragraph 4, and upon information and belief based,  &

a&, 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

defendant Infinity Broadcasting Corporation ("Infinity" or the "Company"), against certain of

its officers and directors and the controlling shareholder of Infinity to enjoin certain actions of

defendants related to the proposed acquisition of the outstanding shares of Infinity common

stock by its majorty controlling shareholder, defendant Viacom, Inc. ("Viacom").

       2.      The consideration that Viacom has stated it will o'ffer  to members of the Class

(as defined below) in the proposed stock acquisition is unfair and grossly inadequate, because

SNIPPETS:

SHAREHOLI>ERS' CLASS ACTION COMPLAINT

Plaintiffs, by their attorneys, for their complaint against defendants, alleges upon

This is a stockholders' class action on behalf of the public stockholders of

defendant Infinity Broadcasting Corporation,

stock by its majorty controlling shareholder, defendant Viacom, Inc..

The consideration that Viacom has stated it will o'ffer to members of the Class

in the proposed stock acquisition is unfair and grossly inadequate,

net asset value and future profitability.

Plaintiffs are and at all relevant times have been owners of Infinity common

offices located at 40 West 57th Street, New York, New York 10019.

outstanding, held by hundred:s if not thousands of shareholders of record.