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HERBERT CONDELL et al v PEROT SYSTEMS CORP Click to find out why . . .



Keywords & Phrases
CaseNo: HCEAVPSC215069, CourtName: MISC 2, Plaintiff: HERBERT CONDELL et al, State: NY New York, UniqueCaseRef: LCD>HCEAVPSC215069, Perot Systems, Material Facts, Exchange, Securities, Common, Class Period, Omissions, Power, Reports, Federal Securities Laws, California, Violation, Common Stock, Inter Alia, Crucial Facts, Power Grid, Connection, Weaknesses, Sales Presentation, Exchange Act, Business Practices, Proprietary Information, States District Court, Commission, Consulting Business, Misleading, Misrepresentations , ContentID: 120252708

Case Documents
1   COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 127795
25 pages
PDF
Total Documents: 1 document , 25 pages
Price: $ 19.95


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1 . COMPLAINT

EXTRACTED KEY WORDS
DEFENDANTS
PLAINTIFF
MATERIAL FACTS
EXCHANGE
SECURITIES
COMMON
CLASS PERIOD
OMISSIONS
POWER
REPORTS
FEDERAL SECURITIES LAWS
CALIFORNIA
VIOLATION
COMMON STOCK
BUSINESS
INTER ALIA
CRUCIAL FACTS
POWER GRID
CONNECTION
WEAKNESSES
SALES PRESENTATION
EXCHANGE ACT
BUSINESS PRACTICES
PROPRIETARY INFORMATION
STATES DISTRICT COURT
COMMISSION
CONSULTING BUSINESS
MISLEADING
MISREPRESENTATIONS
                             UNITED STATES DISTRICT COURT
                           SOUTHERN DISTRICT OF NEW YORK
________________________________________________
HERBERT CONDELL, on behalf of himself                  X       No.
 and all others similarly situated,                            :
                                                               :       CLASS ACTION
                                       Plaintiffs,             :       COMPLAINT
                                                               :
                        against                                :       JURY TRIAL DEMANDED
                                                               :
PEROT SYSTEMS CORP.,                                           :
ROSS PEROT and ROSS PEROT, JR.,                                :
                                                               :
                                       Defendants.             :
________________________________________________X


        Plaintiffs, by their undersigned attorneys, individually and on behalf of the Class


below, upon information and belief, based upon, inter alia, the investigation of counsel, which


includes, among other things, a review of public announcements made by defendants, Securities and


Exchange Commission ("SEC") filings made by defendants, press releases, reports of securities


analysts, and media reports, except as to the paragraph applicable to the named plaintiffs which is


alleged upon personal knowledge, bring this complaint (the "Complaint") against defendants named


herein, and allege as follows:


                                   SUMMARY OF ALLEGATIONS


        1.    This is a securities class action alleging violations of the federal securities laws


the common law in connection with misstatements and omissions of material fact regarding  Perot


Systems Corp. ("Perot Systems" or the "Company") by the defendants named herein.  In particular,

SNIPPETS:
  • UNITED STATES DISTRICT COURT
  • Exchange Commission filings made by defendants, press releases, reports of securities
  • the common law in connection with misstatements and omissions of material fact regarding Perot
  • Systems Corp. ("Perot Systems" or the "Company") by the defendants named herein.
  • regarding risky business practices that Perot Systems was engaging in in order to try to
  • C That Perot Systems had disclosed crucial proprietary information regarding the
  • could be used to cause artificial congestion on such grid to power trader Reliant
  • Energy in the course of a Perot Systems sales presentation to Reliant;
  • weaknesses and loopholes in California's power grid enabled power traders to exploit
  • point in trying to obtain lucrative consulting business.
  • When Wall Street learned about the foregoing after California State Sen.
  • additional 11.3% to close at $12.90 on June 6, 2002, down from its class period high of
  • the Securities Exchange Act of 1934 and 28 U.S.C. § 1331.
  • Plaintiff brings this action pursuant to Sections 10and 20of the Exchange Act
  • 240.10b-5), and the common law.
  • exchanged or otherwise acquired the common stock of Perot Systems between February
  • whether the federal securities laws were violated by defendants' acts as
  • in the California power grid, including, inter alia;
  • MISSTATEMENTS AND OMISSIONS OF MATERIAL FACTS
  • Defendants omitted to state the following crucial facts regarding risky business
  • Such affirmative statements were incomplete and misleading because they did not reveal or
  • herein and/or the fact that Perot Systems was engaging in risky business practices in order
  • Defendants made public misrepresentations or failed to disclose material facts
  • high market prices for Perot Systems common stock in violation of Section 10of the Exchange
  •    |