Investor Accuses Titanium Metals Chief Of Self-Dealing

Law360, Wilmington (December 1, 2011, 7:15 PM EST) -- A Titanium Metals Corp. shareholder has alleged majority owner and Chairman Harold Simmons has harmed the company through a history of self-dealing with other entities he controls, according to a derivative suit unsealed Wednesday in Delaware.

Through his dominion over the TMC board, Simmons has prodded the company into various transactions benefiting so-called sister entities, but hurting TMC’s bottom line — breaching his fiduciary duty to the company and minority shareholders in the process, according to the suit lodged in Delaware Chancery Court by the Louisiana...
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