Shareholders have filed a lawsuit and are seeking class action status against the airline seeking to suspend a poison pill provision to allow bidders to acquire the airline. The lawsuit was filed in Milwaukee County Circuit Court and claims the company's poison pill allows it to issue more shares if one stockholder acquires at least 15% of the company and therefore makes it very difficult to mount a takeover. Midwest Air renewed its poison pill provision in February 2006 and noted action was not taken in response to a specific buyout offer at that time.
If you feel you should be included in this possible class action lawsuit, please contact Gregory Nespole of [Wolf Haldenstein Adler Freeman & Herz]
