laker5, you say, "To an outsider hearing about this case, the response is often incredulity as to why executives of a large corporation in the post-Enron/Worldcom era would engage in such activity."
If you open the following Court document, and scroll down to page 5, you'll see where that question was asked in an email to Ulrich, our Trustee, and his boss, Story, on 1/20/2005 81 days before the lawsuit was filed on 4/11/2005. Apparently a group of Unitholders were firing warning shots over the bows of pxd, Woodside, and jpm top management, and even pxd's board of directors, long before they got their a$$e$ sued. Maybe they all just wanted to make a bunch of us unitholders rich, if we wanted to try to stop the heist. You'd think that at least jpm would have shaped up after $2 billion+ settlements with Enron and WorldCom each. This case is even more than a black eye, because victims here are all unitholders in a "passive Trust" who the defendants claim do not have the standing to seek justice in our legal system.The whole bunch of thieves actually were begging to be where they now are over 3 years later. Can you imagine what fun the newswires are going to have with this one??? Oh well, I'll take their money; how about you?
Document 26797418, by court 334 (28 pages)
- Email and attachments from Keith Wiegand on behalf of approximately 12,000 Mesa Offshore Trust Unitholders affected by but not involved in the lawsuit. 2/26/2007
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