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Genco Accuses Exec Of Takeover Conspiracy

Law360 (December 16, 2008, 12:00 AM EST) -- Silver mining company Genco Resources Ltd. has sued one of its senior officers for allegedly masterminding an insider conspiracy to acquire Genco and a subsidiary at below-market prices.

The complaint, lodged Friday in the U.S. District Court for the District of Arizona, claims Gordon Blankstein, head of Genco’s corporate finance department and CEO of Chief Consolidated Mining Co., hatched a plan to depress Genco’s stock before launching a takeover bid.

Blankstein planned to form a new company, which would hire both Genco’s president and chief financial...
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