UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 6, 2000
KENETECH CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation or Organization)
33-53132 94-3009803
(Commission File Number) (I.R.S. Employer
Identification Number)
500 Sansome Street, Suite 410
San Francisco, California 94111
(Address of Principal Executive Offices) (Zip Code)
(415) 398-3825
(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events.
KENETECH Corporation announced today that the Supreme Court of the State of
Delaware affirmed on all counts the judgment previously entered by the Court of
Chancery of the State of Delaware in favor of KENETECH in an action brought by
former holders of its preferred stock. In the action captioned Quadrangle
Offshore (Cayman) LLC and Cerberus Partners, L.P. v. KENETECH Corporation,
plaintiffs had alleged, among other things, (1) that KENETECH was in liquidation
and had been in liquidation prior to the mandatory conversion of the preferred
stock on May 14, 1998, (2) that the plaintiffs were entitled to receive a
liquidation preference for each share of preferred stock in any distribution
KENETECH might make, and (3) that KENETECH had acted in bad faith with respect
to the holders of preferred stock. The judgment below rejected each of these
claims.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KENETECH Corporation
(Registrant)
Date: April 6, 2000 By: _________________________________
Mark D. Lerdal
President and Chief Executive Officer
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