Sierracin Corp. rejected what it termed a...

Sierracin Corp. rejected what it termed a “greenmail” demand from one of its dissident stockholders, Herbert Hastings, who with his wife, Euretta, owns 7.3% of the Sylmar, Calif.-based aerospace and electronics concern. Sierracin said Hastings demanded that it buy the stake for $17.14 a share, or $4.25 million. Paul M. Smith, attorney for Hastings, said his client made no such demand and that Sierracin’s announcement was meant to divert attention from a lawsuit the Hastingses filed, alleging misconduct and fraud by Sierracin’s top management. Sierracin said the Hastings’ charges were “false and without merit.”