March 4, 1988 |
Five KaiserTech directors sued company Chairman Alan E. Clore on Thursday, charging that his agreement to sell his 27% stake in the Oakland aluminum producer is a breach of contract and that he has "ceased to be a person of good repute and integrity." The suit seeks to block what it contends are Clore's plans to place on the 14-member KaiserTech board eight new directors who are being selected by Charles Hurwitz, chairman of Maxxam Group.
March 1, 1988 |
Beleaguered KaiserTech Chairman Alan E. Clore has agreed to sell his stake in the Oakland-based aluminum company to a firm controlled by Texas financier Charles E. Hurwitz, it was announced Monday. Hurwitz, a low-profile Houston deal maker known for his takeovers, also owns a lumber company that has been criticized recently for chopping down too many old redwoods in Northern California. Hurwitz's Maxxam Group, a New York-based real estate and forest products company, will pay between $229.
December 16, 1987 |
The tribulations of British investor Alan E. Clore were responsible for almost all of the up to $10-million loss that the Jefferies & Co. securities firm incurred in October because of the stock market plunge, it was revealed Tuesday. KaiserTech Chairman Clore disclosed in a filing with the Securities and Exchange Commission that he placed orders with Jefferies in October for $17.2 million of KaiserTech stock but never paid for the shares.