To: SG who wrote (225 ) 6/23/1998 11:23:00 AM From: HP Respond to of 688
good morning folks... here we go. FIRST CAUSE OF ACTION (Intentional Breach of Fiduciary Duty) Against Defendant ATLANTIC PACIFIC; All of the Individual Defendants Except WOODS and BORETZ; and DOES 10-100 Plaintiffs hereby incorporate by reference paragraphs 1 through 82, inclusive. As directors, officers, employees and/or controlling shareholders of WWWC, the defendants expressly and/or impliedly owed and continue to owe WWWC and all of its shareholders an obligation of trust and confidence with respect to the corporate assets of WWWC. The defendants have engaged in the wrongful conduct, as set forth herein, in breach of and/or to aid and abet breaches of fiduciary duties owed to plaintiffs and the members of the Class. The defendants have intentionally abused their positions of trust, wasted corporate assets, and favored their own interests at the expense of plaintiffs. The defendants' conduct was not due to an honest error of judgement, but rather was due to the defendants' bad faith and was done intentionally or in reckless disregard of rights and interests of plaintiffs and the other members of the Class. As a direct and proximate result of the defendants' breaches of fiduciary duty and/or their aiding and abetting thereof, plaintiffs and the members of the Class have sustained and will continue to sustain injury and damages in a sum as yet unknown at this time but believed to be in excess of $10,000,000, according to proof at trial. The wrongful acts of the defendants, and each of them, were done mailiciously, oppressively, and fraudulently, and plaintiffs are entitled to punitive and exemplary damages in an amount to be ascertained, according to proof, which is appropriate to punish or set an example of the defendants, and each of them. continued.....