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GUIDO v HOWMET INTERNATIONAL Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 17,578, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY IN THE STATE OF DELAWARE, Plaintiff: GUIDO, State: DE Delaware, UniqueCaseRef: DE>CC>00017578, Howmet, Cordant, Common, James, Shares, Common Stock, Control, Shareholders, Complaint, Unfair, Proper, Duties, Damages, Adequate, Allegations, Transaction, Stockholders, Squier, Woods, Prior, Outstanding, Chairman, Chief, Officer, Directors , ContentID: 120240624

Case Documents
1 1999-11 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 101611
7 pages
PDF
Total Documents: 1 document , 7 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
PLAINTIFF
HOWMET
CORDANT
COMMON
JAMES
SHARES
COMMON STOCK
CONTROL
SHAREHOLDERS
MEMBERS
COMPLAINT
LAW
UNFAIR
PROPER
DUTIES
DAMAGES
ADEQUATE
COURT
ALLEGATIONS
TRANSACTION
STOCKHOLDERS
SQUIER
WOODS
PRIOR
OUTSTANDING
CHAIRMAN
CHIEF
OFFICER
DIRECTORS
         IN THE COURT OF CHANCERY IN THE STATE OF DELAWARE
                        IN AND FOR NEW CASTLE COUNTY

____-_--_---------_----------------- - - - - X

STEPHEN GUIDO,

                         Plaintiff,

           -against-                                                   Civil Action-No  ",?      
HOWMET INTERNATIONAL INC., JAMES R.
WILSON, RICHARD L. CORBIN, EDSEL D.                                    I            ; .-`, :       
                                                                                         7,  -
DUNFORD, JAMES R. MELLOR,
D. LARRY MOORE, DAVID L. SQUIER,
JAMES D. WOODS and
CORDANT TECHNOLOGIES, INC.                                    ::
                         Defendants.

_______--_--_---------     - - - - - - - - - - - - - - - - - - X

                          CLASS ACTION COMPLAINT

           Plaintiff alleges upon personal knowlledge with respect to

paragraph 2, and upon information and belief as to all other

allegations herein, as follows:

                           NATURE  OF THE ACTION

           1.     This is a class action on  be:half of the public

stockholders of       Howmet      International                     Inc.    (l'Howmetl'  or the

l'Company")  to enjoin the proposed acquisition of the publicly owned

shares of  Howmet's common stock by its controlling shareholder,

defendant  Cordant Technologies, Inc.  ("Cordant").

                                    THE PARTIES

           2.     Plaintiff has been the owner of shares of the common

stock of the Company since prior to the transaction herein

complained of and continuously to date.

SNIPPETS:
  • IN THE COURT OF CHANCERY IN THE STATE OF DELAWARE
  • HOWMET INTERNATIONAL INC., JAMES R.
  • CLASS ACTION COMPLAINT
  • Plaintiff alleges upon personal knowlledge with respect to
  • Plaintiff has been the owner of shares of the common
  • Defendant Cordant is a corporation duly organized
  • owns approximately 85% of the Company's outstanding common stock.
  • He has served as Chairman of the Board,
  • President and Chief Executive Officer of Corda:nt since 1995.
  • Defendant David L. Squier and James D. Woods are
  • directors of Howmet.
  • Defendant Cordant and the individual defendants are
  • CLASS ACTION ALLEGATIONS
  • on behalf of all Howmet stockholders (except defendants
  • There are questions of law and fact which are common
  • whether plaintiff and the other members of the
  • transaction is unfair and inadequate because, among other things,
  • public stockholders by using its control of Howmet to seek to force
  • and deprive Howmet's public shareholders of fair
  • also breached the duties of loyalty and due jcare by not taking
  • Plaintiff has no adequate remedy at law.
  • declaring this to be a proper class action;
  • complained of is consummated prior to the entry of this Court's
  • rescinding the same or awarding rescissory damages
  •    |