Boesky Named in Suit by Ex-Kaiser Workers
A group of former Kaiser Steel Co. workers has filed a multimillion-dollar class-action suit against Wall Street speculator Ivan Boesky and other stockholders of the steel company, charging them with a series of unlawful transactions resulting in Kaiser’s insolvency, which left them without benefits.
The suit, filed in Los Angeles Superior Court, claims Boesky and the others acted as “corporate raiders” in a leveraged buy-out of the company and then diverted the assets to their own use.
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