AES CORP. v. DOW CHEMICAL CO.

No. 01-3373.

325 F.3d 174 (2003)

AES CORP., Appellant v. THE DOW CHEMICAL COMPANY; Dynegy Power Corporation f/k/a Destec Energy Inc.

United States Court of Appeals, Third Circuit.

Filed April 14, 2003.


Attorney(s) appearing for the Case

Dennis E. Glazer, James W.B. Benkard (Argued), Frances E. Bivens, Davis, Polk & Wardwell, New York, and Michael D. Goldman, Stephen C. Norman, Potter, Anderson & Corroon, Wilmington, for Appellant.

Herbert L. Zarov, Michele L. Odorizzi (Argued), Daniel J. Delaney, Mayer, Brown, Rowe & Maw, Chicago, and David C. McBride, John W. Shaw, Young, Conaway, Stargatt & Taylor, Wilmington, for Appellee.

Before McKEE, STAPLETON and WALLACE, Circuit Judges.


CLIFFORD, Senior Circuit Judge, concurring and dissenting.

OPINION OF THE COURT

STAPLETON, Circuit Judge.

I. Introduction

The AES Corporation ("AES") operates power facilities. AES alleges that Dow Chemical Company ("Dow") and its subsidiary, Destec Energy, Inc. ("Destec"),1 violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with a transaction in...

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