Legal Opinion · Concurring in part, dissenting in part

Aes Corp. v. The Dow Chemical Company Dynegy Power Corporation F/k/a Destec Energy Inc

Court of Appeals for the Third Circuit

Decided April 14, 2003No. 01-3373PublishedCited by 43 opinions

1Concurring in part, dissenting in partClifford, Senior Circuit Judge

OPINION OF THE COURT

STAPLETON, Circuit Judge.

I. Introduction

The AES Corporation (“AES”) operates power facilities. AES alleges that Dow Chemical Company (“Dow”) and its subsidiary, Destec Energy, Inc. (“Destec”),1 violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with a transaction in which AES purchased the stock of one of Destec’s subsidiaries, Destec Engineering, Inc. (“DEI”). DEI’s sole asset was a contract to design and construct a power plant in The Netherlands (the “Els-*176ta Plant”). According to AES, Dow and Destec conspired to…

2Cases cited12 opinions

  1. Shearson/American Express Inc. v. McMahonSupreme Court of the United States · 1987
  2. Harsco Corp. v. SeguiCourt of Appeals for the Second Circuit · 1996
  3. Town of Newton v. RumerySupreme Court of the United States · 1987
  4. George Semerenko v. Cendant Corp. Walter A. Forbes E. Kirk Shelton Cosmo Corigliano Christopher K. McLeod Ernst & Young LLP George Semerenko, Individually and on Behalf of All Others Similarly Situated, P. Schoenfeld Asset Management Llc, on Behalf of Itself and All Others Similarly Situated v. Cendant Corp. Walter A. Forbes E. Kirk Shelton Cosmo Corigliano Christopher K. McLeod Ernst & Young LLPCourt of Appeals for the Third Circuit · 2000
  5. Fed. Sec. L. Rep. P 95,623 Eckart R. Straub v. Vaisman and Company, Inc., a New Jersey CorporationCourt of Appeals for the Third Circuit · 1976

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3Cited by43 opinions

  1. Kronenberg v. KatzCourt of Chancery of Delaware · 2004
  2. Clinton D. Brown v. Earthboard Sports Usa, Inc. Hugh Jeffreys Jeffrey A. Vaughn Lincoln Financial Advisors Corporation, D/B/A Sagemark ConsultingCourt of Appeals for the Sixth Circuit · 2007
  3. Extra Equipamentos E Exportaçáo Ltda. v. Case Corp.Court of Appeals for the Seventh Circuit · 2008
  4. MONTGOMERY BLAIR SIBLEY v. ST. ALBANS SCHOOLDistrict of Columbia Court of Appeals · 2016
  5. Burman v. Phoenix Worldwide Industries, Inc.District Court, District of Columbia · 2005

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