Shareholder Sidney Kaufman filed a class-action suit...

Shareholder Sidney Kaufman filed a class-action suit against MGM-UA Communications Co., alleging that primary stockholder Kirk Kerkorian and 13 other directors of the entertainment conglomerate unfairly rejected acquisition offers, according to Superior Court documents. The suit contends that Kerkorian and the other directors breached their fiduciary obligation to shareholders by rejecting a $1-billion buyout offer last month by Elizabeth Dickerson Industries of Monaco. It seeks unspecified damages and an injunction requiring MGM-UA’s directors to evaluate the company’s net worth as a merger-acquisition candidate and actively evaluate any serious offers.