[net-gold] UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY : INDUSTRIES: PETROLEUM INDUSTRY : POLITICS : ORGANIZATIONS : LAW: CASES: Kochs File Kansas Lawsuit Over Think Tanks Ownership; CEO Sees Attempt at Hostile Takeover
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
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- Date: Sun, 4 Mar 2012 12:33:51 -0500 (EST)
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UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY :
INDUSTRIES: PETROLEUM INDUSTRY :
POLITICS :
ORGANIZATIONS :
LAW: CASES:
Kochs File Kansas Lawsuit Over Think Tanks Ownership;
CEO Sees Attempt at Hostile Takeover
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Kochs File Kansas Lawsuit Over Think Tanks Ownership;
CEO Sees Attempt at Hostile Takeover
By Associated Press
Published: March 1
Washington Post
http://www.washingtonpost.com/national/koch-brothers-
file-lawsuit-in-kansas-over-dispute-about-conservative-
think-tanks-ownership/2012/03/01/gIQAsJiskR_story.html
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A shorter URL for the above link:
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http://tinyurl.com/72ccgop
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TOPEKA, Kan. Billionaire brothers and political donors Charles and David
Koch are pursuing a lawsuit in their native Kansas over the ownership of a
libertarian-leaning think tank based in Washington, and the organizations
CEO described it as a hostile takeover attempt.
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The Koch brothers, known nationally for supporting conservative causes and
candidates, also are longtime shareholders in the Cato Institute, a
research organization that promotes free-market, small-government
policies. Their lawsuit seeks a court ruling that would leave the
institute with only one other shareholder, its president and chief
executive officer, Ed Crane, who also is a defendant.
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The brothers filed their lawsuit Wednesday in Johnson County District
Court, arguing that the Kansas court has jurisdiction because the Cato
Institute, while based in Washington, also lists an office in the Kansas
City suburb of Overland Park. The brothers are the top executives at
Wichita-based Koch Industries Inc., but the multibillion-dollar industrial
firm is not involved in the lawsuit.
The lawsuit centers on the 25 percent ownership interest in the Cato
Institute previously held by William Niskanen, who retired as chairman in
2008 and died in October. The Koch brothers contend that under
shareholders agreements in 1977 and 1985, his wife cant retain the shares
and control his ownership interest but must give the shares back to the
institute.
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snip
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The two brothers are the only plaintiffs in the lawsuit, which names the
institute, Crane and Kathryn Washburn, Niskanens widow, as defendants. Wes
Edwards, an attorney for the Koch brothers, said theyve made multiple
attempts to resolve the issue and are going to court reluctantly.
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But Crane said in a statement that while Charles Koch is trying to gain
control of the institute. Crane said that while Charles Koch and entities
hes controlled have provided financial support, hes had no significant
influence over the institutes management, direction or work.
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We view Mr. Kochs actions as an attempt at a hostile takeover, and intend
to fight it vehemently in order to continue as an independent research
organization, Crane said.
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snip
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The case is Koch, et. al. vs. Washburn, et. al., No. 12CV01749 in Johnson
County, Kan., District Court.
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Online:
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Johnson County, Kan., courts:
http://www.jococourts.org/
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Cato Institute:
http://www.cato.org/
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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- » [net-gold] UNITED STATES: POLITICS: POLITICAL PARTIES: REPUBLICAN PARTY, TEA PARTY : INDUSTRIES: PETROLEUM INDUSTRY : POLITICS : ORGANIZATIONS : LAW: CASES: Kochs File Kansas Lawsuit Over Think Tanks Ownership; CEO Sees Attempt at Hostile Takeover - David P. Dillard
