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IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
:
STEVEN J. WEISS PROFIT SHARING PLAN, :
Plaintiff,
:
- against - :: Civil Action No.
THOMAS J. BARRACK, JR., LLOYD M. :
BENTSEN, JR., GORDON M. BETHUNE, DAVID :
BONDERMAN, GREGORY D. BRENNEMAN, :
PATRICK FOLEY, DOUGLAS MCCORKINDALE, :
GEORGE G.C. PARKER, RICHARD W. POGUE, :
IWILLIAM S. PRICE, III, DONALD L. STURM, :
KAREN HASTIE WILLIAMS, CHARLES A. :
YAMARONE, CONTINENTAL AIRLINES, INC. :
and NORTHWEST AIRLINES, INC. ::
Defendants. ::
Plaintiff, by its attorneys, Rosenthal, Monhait, Gross
& Goddess, P.A., for its complaint against defendants, alleges
upon information and belief, except for paragraph 2 hereof, which
is alleged upon knowledge as follows:
1. Plaintiff brings this action pursuant to Rule 23
of the Rules of the Court of Chancery on its own behalf and as a
class action on behalf of all persons, other than defendants and
those in privity with them, who own the Class A and Class B
common stock (the "common stock") of Continental Airlines, Inc.,
("Continental" or the "Company").
2. Plaintiff has been the owner of the common stock
of the Company since prior to the wrongs herein complained of and
continuously to date.
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SNIPPETS:
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
PATRICK FOLEY, DOUGLAS MCCORKINDALE,: GEORGE G.C. PARKER, RICHARD W. POGUE,: IWILLIAM S.
YAMARONE, CONTINENTAL AIRLINES, INC.:
Plaintiff, by its attorneys, Rosenthal, Monhait, Gross
& Goddess, P.A., for its complaint against defendants, alleges
common stock of Continental Airlines, Inc.,
Defendant Northwest Airlines, Inc.
commercial air transportation of passengers and cargo in the
Continental and owns or controls approximately 5.3 million shares
of Class A stock which carry super voting rights of 10 votes per
pursuant to Rule 23 of the Rules of the Court
The class is so numerous that joinder of all members is impracticable.
shareholders located throughout the country.
There are questions of law and fact which are
damages as a result of the wrongful conduct committed by
making appropriate injunctive relief and/or corresponding
In January, 1998, the Individual Defendants determined to place
reached an agreement in principle providing for a proposed
This proposed transaction was scuttled by Northwest's
On or about January 25, 1998, Delta and Northwest
were considered by the Continental Board of Directors.
Bonderman advised the Continental Board that he would be willing
merger bid for Continental.
but under different ownership and management.
fiduciary duties owed to the public shareholders of Continental
Northwest will have full control without having paid the
Northwest knowingly aided and abetted the breaches
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