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WEISS v HARKEN ENERGY Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 18,182, Plaintiff: WEISS, State: DE Delaware, UniqueCaseRef: DE>CC>00018182, Demand, Encap, Books, Agreement, Pursuant, Purpose, Finance Agreement, Shares, Cash, Inspection, Shareholders, Oil, Common Stock, Hereto, Del, Permit Plaintiff, Proper Purpose, Weiss, Harken Energy Corporation, Delaware, General Corporation Law, Connection, Encap Investments, Peterson, Rights, Gas, Buy-back, Exhibit , ContentID: 120240243

Case Documents
1 2000-07 COMPLAINT UNDER 8 DEL. C. SEC 220
[ see first page and extracted highlights below  ] ItemID: 101009
4 pages
PDF
Total Documents: 1 document , 4 pages
Price: $ 19.95


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1 . COMPLAINT UNDER 8 DEL. C. SEC 220

EXTRACTED KEY WORDS
DEMAND
ENCAP
BOOKS
AGREEMENT
PURSUANT
PURPOSE
FINANCE AGREEMENT
SHARES
CASH
INSPECTION
SHAREHOLDERS
OIL
COMMON STOCK
HERETO
DEL
BUSINESS
PERMIT PLAINTIFF
PROPER PURPOSE
WEISS
HARKEN ENERGY CORPORATION
DELAWARE
GENERAL CORPORATION LAW
CONNECTION
ENCAP INVESTMENTS
PETERSON
RIGHTS
GAS
BUY-BACK
EXHIBIT
!I                                          IN AND FOR NEW CASTLE COUNTY


                                                               1
      MELVYN 1. WEISS,
                                                               :
                           Plaintiff,

                V .                                            ) C.A. No.
                                                               >
      HARKEN ENERGY CORPORATION,
                                                               i
                           Defendant.                         1


                                            COMPILAINT  UNDER 8 DEL. C. 4 220

                                                     NATURE OF THE ACTION

                1.         By this action, plaintiff seeks to enforce his right to inspect certain

      books and records of defendant Harken Energy Corporation ("Harken" or the "Company"), a

      Delaware corporation, pursuant to Section 220 of the Delaware General Corporation Law.

      Plaintiff seeks to inspect these records for the purpose of ascertaining whether the members

      Harken's  Board of Directors have breached their fiduciary duties of care and loyalty owed to

      Harken and its shareholders in connection with the matters described below.

                                                            PARTIES

                2.         Harken is a Delaware corporation.

                3.         Plaintiff is the record owner of shares of the common stock of Harkeh.

                4.         Plaintiff has held his stock in Harken at all relevant times.





      K\MCM\CMPTSVIARKEN  220 - July 28,200O  (2,.38,,m)



                                                      !mIM FOR RELIEF

SNIPPETS:
  • HARKEN ENERGY CORPORATION,
  • Delaware corporation, pursuant to Section 220 of the Delaware General Corporation Law.
  • Plaintiff seeks to inspect these records for the purpose of ascertaining whether the members
  • Harken and its shareholders in connection with the matters described below.
  • EnCap Investments L.C. and EnCap Investors
  • The Development Finan'ce Agreement provided, inter alia, that its participants had
  • EnCap plarticipation into shares of Harken common stock.
  • the interests and rights held by EnCap (and Peterson) in connection with the Development
  • Finance Agreement.
  • As of September 30, 1999, Harken's cash resources totaled approximately
  • for oil and gas to replace the Company's diminishing oil and gas reserves and/or
  • share buy-back: program of up to 10 million shares, Harken had only purchased 735,000 of its
  • See Exhibit B hereto.
  • on May 12,2000, plaintiff executed a written demand under oath, pursuant to 8 Del.
  • dernanding the right to inspect and copy certain of the books and records of Harken relating
  • Harken failed to respond to the demand within five business days of the mailing
  • General Corporation Law respecting the form and manner of making a demand for inspection of
  • Plaintiffs demand for inspection is for a proper purpose,
  • By reason of the foregoing and pursuant to 8 Del.
  • That the Court summarily order Harken to permit plaintiff and/or his
  • MILBERG WEISS BERSHAD HYNES & LERACH LLP
  •    |