Summary
This 8-K filing from ONEOK, Inc. (OKE) on September 27, 2001, reports on a significant legal development concerning a dispute with Southern Union Company. A Federal District Court granted ONEOK's motion for summary judgment on a portion of the claim related to tortious interference with a prospective business relationship with Southwest Gas Corporation. Specifically, the court granted summary judgment regarding lost profit damages sought by Southern Union. While this ruling is a positive step for ONEOK, investors should note that the court denied the motion concerning out-of-pocket and punitive damages. This means the legal dispute is not entirely resolved, and further proceedings may occur regarding these remaining damage claims. The filing also includes a press release dated September 25, 2001, detailing this announcement, and is signed by Jim Kneale, Senior Vice President, Treasurer, and Chief Financial Officer.
Key Highlights
- 1ONEOK, Inc. (OKE) filed an 8-K report on September 27, 2001.
- 2A Federal District Court granted ONEOK's motion for summary judgment on a key aspect of the Southern Union Company lawsuit.
- 3The court ruled in favor of ONEOK concerning claims for lost profit damages related to tortious interference with a prospective relationship with Southwest Gas Corporation.
- 4The court denied ONEOK's motion for summary judgment regarding out-of-pocket and punitive damages sought by Southern Union.
- 5This indicates a partial legal victory for ONEOK, but some claims remain in dispute.
- 6The filing includes a press release from September 25, 2001, announcing the court's decision.
- 7Jim Kneale, Senior Vice President, Treasurer, and CFO, signed the report.