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SMITH v HARTONG Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 17,594, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: SMITH, State: DE Delaware, UniqueCaseRef: DE>CC>00017594, Air, Shareholders, Deutsche Post, Transaction, Common, Individual Defendants, Directors, Common Stock, Shares, Fiduciary Duties, Merger, Agreement, John, Breaching, Relief, Damages, York, Price, Consummation, Proposed Transaction, Hartong, Guenter Rohrmann, International Corporation, Chairman, Executive Officer , ContentID: 120240611

Case Documents
1 1999-11-19 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 101596
7 pages
PDF
Total Documents: 1 document , 7 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
DEFENDANTS
PLAINTIFF
MEMBERS
SHAREHOLDERS
DEUTSCHE POST
TRANSACTION
COMMON
INDIVIDUAL DEFENDANTS
DIRECTORS
COMMON STOCK
SHARES
FIDUCIARY DUTIES
MERGER
AGREEMENT
JOHN
BREACHING
LAW
RELIEF
DAMAGES
YORK
PRICE
CONSUMMATION
PROPOSED TRANSACTION
COURT
HARTONG
GUENTER ROHRMANN
INTERNATIONAL CORPORATION
CHAIRMAN
EXECUTIVE OFFICER
                                                                                                   I
             IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                                IN AND FOR NEW CASTLE COUNTY

----------------------------------------------------x
STEVE SMITH,

                          Plaintiff,
                                                         Civil Action No. )yvyYld  c
                 V.

HENDRIK J. HARTONG, JR.,
GUENTER ROHRMANN, JOHN M.
FOWLER, DONALD J. KELLER,
ANDREW  L.  LEWIS  IV, RICHARD  T.
NINER, JOHN RADZIWILL, NOEL E.
VARGAS and AIR EXPRESS
INTERNATIONAL CORPORATION,

                                   Defendants.
                                                   -X

                                        CLASS ACTION COMPLAINT

                 Plaintiff alleges upon information and belief, except for paragraph 2 hereof,

which is alleged upon personal knowledge, as follows:

                                          SUMMARY OF ACTION

                  1.      Plaintiff brings this action on behalf of himself and all other

shareholders of defendant Air Express International Corporation. ("Air Express" or the

"Company"), except defendants and their affiliates, against the directors of Air Express for

breaching their fiduciary duties to Air Express's shareholders in failing to take appropriate

measures to maximize the value of the Air Express stock held by its shareholders.

                                               THE PARTIES

                 2.       Plaintiff owns shares of the common stock of Air Express and has been

the owner of such shares at all times relevant hereto.

                  3.      Air Express is a corporation organized and existing under the laws of


SNIPPETS:
  • IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
  • Plaintiff alleges upon information and belief, except for paragraph 2 hereof,
  • shareholders of defendant Air Express International Corporation.
  • breaching their fiduciary duties to Air Express's shareholders in failing to take appropriate
  • Plaintiff owns shares of the common stock of Air Express and has been
  • Defendant Hendrik J. Hartong,
  • of Directors of Air Express.
  • Defendant Guenter Rohrmann is President,
  • The defendants named in paragraphs 4-l 1 above are hereinafter
  • By virtue of the Individual Defendants' positions as officers and/or
  • on behalf of himself and all other holders of the common stock of Air Express (except
  • The class is so numerous that joinder of all members is
  • common law duties owed by them to plaintiff and the other members of the class;
  • thereby making appropriate injunctive relief and/or corresponding
  • On November 15, 1999, Air Express and Deutsche Post AG, Europe's
  • Under the terms of the merger agreement,
  • tender offer for all outstanding shares of Air Express at a price of $33 per share in cash.
  • Upon consummation of the tender offer, any remaining shares of Air Express will be acquired
  • Air Express's present Chief Executive Officer, defendant Rohrmann,
  • will assume the position of Vice Chairman of the combined division.
  • the terms of the proposed transaction were not the
  • The Individual Defendants have violated the fiduciary duties owed to
  • or granting the Class rescissory damages;
  • East 45th Street New York,
  •    |