Coastcast Sues Jonathan Vannini.RANCHO ran·cho n. pl. ran·chos Southwestern U.S. 1. A hut or group of huts for housing ranch workers. 2. A ranch. DOMINGUEZ, Calif.--(BUSINESS WIRE)--Aug. 13, 1998-- Coastcast Corp. (NYSE NYSE See: New York Stock Exchange :PAR) Thursday announced that it has filed a lawsuit against Jonathan Vannini seeking a declaration that Vannini's purported call of a special meeting of shareholders is invalid as a matter of California law California Law consists of 29 codes, covering various subject areas, the State Constitution and Statutes. See also
Vannini, who describes himself as a private investor, has filed a statement with the Securities and Exchange Commission in which he states that he is the beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial of approximately 10.12 percent of the outstanding Coastcast common stock. Coastcast had its 1998 annual meeting of shareholders on June 22, 1998, and its board of directors was elected at that time. The Coastcast lawsuit alleges that public statements by Vannini in his SEC filing and elsewhere are inaccurate and misleading, and fail to disclose information required by law. Coastcast, a leading manufacturer of golf-club heads, produces metal woods, ironsand putters in a variety of metals, including stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. and titanium. Customers include Callaway, Cleveland, Cobra, Daiwa, Odyssey, Taylor Made, Titleist and Wilson. The company also manufactures a variety of investment-cast orthopedic implants and surgical tools that are made to customers' specifications.
CONTACT: Coastcast Corp., Rancho Dominguez
Dick Mora, 310/638-0595
|
|
|||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion