March 3, 1995 in Nation/World

Shareholder Lawsuit Targets Mk, Ex-Boss

From Staff And Wire Reports

Another shareholder is suing former Morrison Knudsen Corp. Chairman William Agee and his top executives.

The lawsuit filed in U.S. District Court in Boise names Agee, acting Chief Executive Officer Stephen Hanks, former Chief Financial Officer James Cleary and Morrison Knudsen itself.

The complaint from Michael Weiss alleges that shareholders were lied to about the Boise-based construction and engineering company’s financial condition so Agee and the others could enhance the value of their own shares and take advantage of executive perks.

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