IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
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X
CAROLINE WEISS,
Plaintiff,
- against -
SILAS L. NICHOLS, ROBERT L.
SMIALEK, DAVID J. BURNS, J. DAVID CLASS ACTION COMPLAINT
CARTWRIGHT, JAMES S. GLEASON,
MARTiN L. ANDERSON, JOHN W.
GUFFEY, JR., WILLIAM P. MONTAGUE,
GLEASON CORPORATION and
VESTAR CAPITAL PARTNERS,
Defendants.
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Plaintiff, alleges upon information and belief, except for paragraph$?;
hereof, which is alleged upon personal knowledge, as follows:
1. Plaintiff brings this action pursuant to Rule 23 of the Rules of the
Court of Chancery individually and ias a class action on behalf of all persons, other than
defendants and those in privity with them, who own the common stock of Gleason
Corporation ("Gleason Corp." or the "Company").
2. Plaintiff has been the owner of the common stock of the Company
since prior to the transaction herein complained of and continuously to date.
3. Gleason Corp. is a corporation duly organized and existing under
the laws of the State of Delaware. The Company is a world leader in the manufacture
of gear production machinery and rellated equipment. The Company maintains its
principal offices at 1000 University Avenue, Rochester, New York.
SNIPPETS:
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
CARTWRIGHT, JAMES S. GLEASON,
Plaintiff, alleges upon information and belief, except for paragraph$?;
defendants and those in privity with them, who own the common stock of Gleason
Plaintiff has been the owner of the common stock of the Company
since prior to the transaction herein complained of and continuously to date.
Defendant Vestar Investment Partners LLC is a New
York based investment firm specializing in management buy-outs and growth capital
15% of the Company's outstanding Icommon stock.
Directors of the Company.
Company's public shareholders, whose fiduciary duties, at all times relevant herein,
The Class is so numerous that joinder of all members is
(W There are questions of law and fact which are common to
constitutes a breach of the duty of fair dealing with respect to the
and all mernbers of the Class, thereby making appropriate injunctive relief and/or
and Vestar (hereinafter collectively the "Vestar Group") whereby the Vestar Group will
The proposed merger represents an improper attempt to eliminate
Gleason Corp.`s valuable business and assets.
in Gleason Corp.`s stock price to buy the Company at an inadequate price.
proposed plan will, for a grossly inadequate consideration, deny plaintiff and the other
By reason of the foregoing,
Plaintiff and the Class have no adequate remedy at law.
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