Federal Court Dismisses Numerous Southern Union Company Claims Against Southwest Gas Executives.Business Editors
LAS VEGAS--(BUSINESS WIRE)--June 25, 2001
Chairman Hartley and EVP EVP Executive Vice President
EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor
EVP Electronic Voice Phenomenon
EVP Europäische Volkspartei (Germany)
EVP Employee Value Proposition Zub Successfully Dismissed from Lawsuit;
Two Causes of Action Dismissed Against Chief Executive Maffie
Southwest Gas Corporation Southwest Gas Corporation (NYSE: SWX) is an investor owned utility based in Las Vegas, Nevada. The company provides natural gas service to over 1.7 million residential, commercial, and industrial customers in Arizona, Nevada, and parts of northeastern and southeastern (NYSE NYSE
See: New York Stock Exchange : SWX SWX Swiss Exchange (trademark of SWX Swiss Exchange)
SWX SolidWorks (3D solid modeling CAD software)
SWX Splitter / Wave Division Multiplexer ) announced today that United States District Court United States District Court
In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. Judge Roslyn O. Silver in Phoenix, Arizona, has issued an Order dismissing numerous causes of action brought by Southern Union Company (NYSE: SUG n. 1. A kind of worm or larva. ) against Southwest Gas executives.
In the June 21, 2001 ruling, the Court dismissed with prejudice Southern Union's fraudulent inducement causes of action against Southwest's Chairman of the Board Thomas Hartley and Southwest's Executive Vice President/Consumer Resources and Energy Services Edward Zub. The Court also dismissed Southern Union's tortious interference claims against Southwest's President and Chief Executive Officer Michael Maffie.
Given that all of Southern Union causes of action against Messrs. Hartley and Zub have been dismissed, Messrs. Hartley and Zub are no longer parties to the lawsuit. The Court also dismissed Southern Union's fraudulent inducement claims against other parties to the lawsuit, including ONEOK, Inc. (NYSE: OKE n. 1. A Turkish and Egyptian weight, equal to about 2
"We are very pleased with the Court's latest decision, which terminates a number of Southern Union's baseless claims against Southwest executives and builds upon the Court's May 21st order dismissing Southern Union's federal and state RICO RICO n. . claims," said Hartley. "As time proves Southern Union's case to be weaker and weaker, we stand by our assertion that Southern Union's allegations against Southwest and its executives are without merit."
Maffie said, "As the Court found, Chairman Hartley and Edward Zub never should have been parties to this case in the first place. We are heartened by the Court's ruling. It is important to keep in mind that Southwest Gas is now the plaintiff in this action, and that it was Southwest Gas and its shareholders that were damaged in this matter. We will press on with this lawsuit in an effort to compensate Southwest and its shareholders for the losses suffered as a result of the misdeeds of Southern Union Company and ONEOK."
Southwest has a comprehensive motion for summary judgment motion for summary judgment n. a written request for a judgment in the moving party's favor before a lawsuit goes to trial and based on recorded (testimony outside court) affidavits (or declarations under penalty of perjury), depositions, admissions of fact, answers currently pending before the court that, if granted, would dismiss the few remaining Southern Union claims left after the rulings. "We believe that with the current motion for summary judgment which has been filed and the additional motions to be filed by our lawyers next week, Southwest is strongly positioned to have the Court dismiss the few remaining Southern Union claims," said Maffie.
A trial date of Nov. 12, 2001 is presently set. It is anticipated that the trial could last two to three months.
Southwest Gas Corporation provides natural gas to about 1,337,000 customers in Arizona, Nevada, and California. Its service territories are centered in the fastest-growing region of the country.
This report contains statements which constitute "forward-looking statements" within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.
When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 (Reform Act). All such forward-looking statements are intended to be subject to the safe harbor protection provided by the Reform Act. A number of important factors affecting the business and financial results of the Company could cause actual results to differ materially from those stated in the forward-looking statements. These factors include, but are not limited to, the impact of weather variations on customer usage, natural gas prices, the effects of regulation/deregulation, the timing and amount of rate relief, changes in capital requirements and funding, resolution of the pending litigation, acquisitions, and competition.