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October 18, 1994|From Times Staff and Wire Reports

Lawsuits Exchanged in Magma Takeover Bid: Locked in an increasingly acrimonious takeover battle, geothermal energy producers California Energy of Omaha and Magma Power of San Diego traded lawsuits in connection with California Energy's unsolicited $840-million offer to acquire Magma. California Energy alleged in its suit that Magma violated its fiduciary responsibilities to shareholders in rebuffing its offer. Magma answered with its own suit alleging that California Energy violated federal disclosure laws relating to its tender offer and its solicitation of proxies to force a special shareholders meeting to discuss its proposed acquisition offer. Both suits were filed in federal court in Reno.

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