Civil Complaint Filed Against Meadow Valley.Business Editors PHOENIX--(BUSINESS WIRE)--Nov. 30, 2001 Meadow Valley Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MVCO MVCO Martha's Vineyard Coastal Observatory ) announced today that a civil complaint has been filed against it and its directors by Silver State Materials Corp. and Cyrus Spurlino (Silver State Materials Corp., et. al. vs. Meadow Valley Corporation, et. al., Eighth District Court, Clark County, Nevada Clark County is a county located in the U.S. state of Nevada. It is the most populous county in Nevada (2006 population estimate 1,912,654), and contains the city of Las Vegas. , Case Number A-442555). The complaint primarily alleges that Meadow Valley's October 1995 Registration Statement on Form S-1 was misleading in stating that Meadow Valley's directors were elected on a staggered basis because Meadow Valley's Bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an , providing for such staggered term, were not so amended until April 1997, and that such amendment was not filed with the Securities and Exchange Commission. The complaint seeks (i) to terminate all of Meadow Valley's directors for cause, (ii) to elect a new Board of Directors, (iii) to cause Meadow Valley to enact amended and restated bylaws, (iv) for monetary damages Monetary damages, in civil law, refers to compensation given to an injured party by a liable party. Monetary damages may be restitution, a penalty, or both. in an undisclosed amount, (v) for interest, fees and costs, and (vi) for such other relief as the District Court may deem appropriate. Meadow Valley believes that the complaint is without merit and intends to vigorously defend it. About Meadow Valley Meadow Valley Corporation, based in Phoenix, Arizona Phoenix /ˈfiːˌnɪks/ (English: Phoenix, Navajo: Hoozdo, lit. "the place is hot", Western Apache: Fiinigis) is the capital and the most populous city of the U.S. , is engaged in the construction industry as both a contractor and a supplier of construction materials. The Company's contracting services specialize in structural concrete construction of highway bridges and overpasses, and the paving of highways and airport runways while the Company's materials operations provide concrete, gravel products and asphalt to itself and to other contractors. The Company's current operations are concentrated in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Phoenix, and Salt Lake City metropolitan areas and in New Mexico. The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties, including, without limitation, demand and competition for the Company's products and services, and other risks or uncertainties detailed in the Company's Securities and Exchange Commission filings. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion