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The purpose of this web page is
to provide a resource for members of the class of shareholders in the
Montana Power Company shareholder class action litigation. On August 1,
2002, the District Court certified a class consisting of all former
shareholders of the former Montana Power Company as of the December
1999 sale of generating facilities to PPL Montana.
In this class action lawsuit, the
plaintiffs allege that the Montana Power Company, through its officers
and directors, pursued a plan engineered by investment bankers Goldman
Sachs & Co. and the Milbank, Tweed law firm, whereby all of the
power and energy-related assets of the Montana Power Company would be
disposed of without the approval of the shareholders. The lawsuit
contends that the total transformation of the company without first
seeking shareholder approval violates clear statutory and Bylaw
provisions which mandate that there can be no disposition of
"substantially all" of a corporation's assets without affirmative
approval by two-thirds majority of the shareholders.
This web page will include a
periodically updated time line of litigation events and will provide a
tool by which class members may obtain information, e-mail inquiries
and participate in actions and decisions which develop in this lawsuit.
In this class action lawsuit, the
Plaintiffs are represented by four Montana law firms: McGarvey,
Heberling, Sullivan, & McGarvey, PC; Knight, Dahood, Everett &
Sievers; Morrison & Frampton, PLLP; Datsopoulos, MacDonald &
Lind, PC.
Check the Status tab for current updates.
If you wish to discuss this action
with us, or have any questions concerning your rights and interests
with regard to this case, please contact us:
McGARVEY, HEBERLING, SULLIVAN & McGARVEY, P.C.
745 S. Main
Kalispell, MT 59901
(406) 752-5566
Counsel for Plaintiffs
To join the e-mail list for this action, click here.
If you have general questions or trouble signing up for the e-mail please e-mail: info@montanapowerlawsuit.com
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