ROANOKE TIMES
Copyright (c) 1995, Roanoke Times
DATE: Tuesday, December 5, 1995 TAG: 9512050073
SECTION: BUSINESS PAGE: C-7 EDITION: METRO
DATELINE: DETROIT
Chrysler Corp. sued its former chairman Monday, claiming Lee Iacocca still was a consultant to the automaker while he was giving secrets to the dissident shareholder who was trying to take control of Chrysler.
``Iacocca has breached his fiduciary duties owed to Chrysler by disclosing confidential information about Chrysler to Kirk Kerkorian, a notorious corporate raider,'' said the lawsuit, which was filed in circuit court in Oakland County, Mich.
Iacocca was part of Kerkorian's failed attempt to take over the nation's No. 3 auto company last spring. He is being paid as a consultant to Kerkorian's Tracinda Corp. and Kerkorian is backing an Iacocca lawsuit against Chrysler over the company's refusal to let him cash in millions of dollars in stock options.
- Associated Press
LENGTH: Short : 27 linesby CNB