Legal Opinion
Lohnes v. Level 3 Communications, Inc.
Court of Appeals for the First Circuit
Decided November 30, 2001No. 01-1613PublishedCited by 111 opinions
1Opinion of the Court
SELYA, Circuit Judge.
The primary issue raised in this appeal is whether the terms “capital reorganization” and/or “reclassification of stock,” as used in a stock warrant, encompass a stock split. Asserting the affirmative of this proposition, a warrantholder, plaintiff-appellant Paul R. Lohnes, claims that a stock split effectuated by defendant-appellee Level 3 Communications, Inc. (Level 3) triggered an antidilution provision in the warrant that automatically increased the number of shares of stock to which he was entitled. Level 3 resists this claim. The district court concluded that the…
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3Cited by111 opinions
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