Plaintiffs Tyco transnational Ltd. and Tyco International (US) Inc. (collectively Tyco or the family), by their undersigned counsel Boies, Schiller & Flexner LLP, as and for their Complaint against Defendant L. Dennis Kozlowski (Kozlowski), allege as follows upon information and touch as to all matters: NATURE OF THE ACTION 1. Kozlowski was the Chairman and oldtimer Executive Officer of Tyco from
July 1992 through June 3, 2002 when the Board sought and accepted his resignation. During that time he gained a reputation as hotshot of the best managers in Corporate America. He was also integrity of the highest, if not the highest, compensated executive in the country. Despite that literal remuneration, Kozlowski, beginning at least as early as 1995, contrived a scheme to abuse the trust that had been move in him by Tycos Board of Directors by misappropriating capital and assets from the Company, and engaging in a concerted pattern of calculate to conceal his larcenous acts from the Board. 2.
In addition to his own unlawful conduct, Kozlowski also induced and
conspired with certain other senior officers and agents of Tyco to weaken their own fiduciary duties to the Company. Kozlowski did this by allowing these persons to share in his misappropriations of bills and assets, also without notice to or approval by the Companys Compensation Committee of the Board of Directors, and by entryway into various undisclosed agreements with these persons, including agreements that gave them excessive and undisclosed compensation, and tied their compensation to Kozlowskis, in ways that were affirmatively concealed from the Companys Board. 3. Specifically, Kozlowski...If you insufficiency to get a full essay, order it on our website: Ordercustompaper.com
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