This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Emilio Alvarez Launches Legal Action To Compel Pan American Goldfields To Hold An Annual Meeting

NEW YORK, Jan. 14, 2013 /PRNewswire/ -- Emilio Alvarez announced today that he has filed a lawsuit in Delaware requesting that the Court of Chancery of the State of Delaware compel Pan American Goldfields Ltd. (PINK: MXOM)  (the "Company") to hold an annual meeting of stockholders for the purpose of electing a full board of directors, which has not occurred since 2001.  The lawsuit was filed with the Court of Chancery on December 14, 2012.

Under Delaware law, if a company fails to hold an annual meeting of stockholders or take action by written consent to elect directors for a period of 13 months, any stockholder may petition the Court to compel that a meeting be conducted.  Mr. Alvarez is the owner of record of 700,000 shares of the Company's common stock. The Company has not held an annual meeting of stockholders to elect directors since 2001 and accordingly has not met its obligations under Delaware law.  None of the current directors have been elected by stockholders.  The Company's continued failure to hold an annual meeting to elect directors denies its stockholders the right to vote for directors or otherwise exercise their legally prescribed control over the Company.  Mr. Alvarez has retained Olshan Frome Wolosky LLP as his legal advisor in this matter.

Contact:Vortex Capital LtdICC Tower 12/F1 Austin Road West Kowloon HONG KONG+852-2849-9888

SOURCE Vortex Capital Ltd

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs