ENERGY

Lawsuit Accuses Mesa Directors of Insider Trading: The action was filed in federal court by billionaires Dennis R. Washington and Marvin Davis, who together own 9.4% of Mesa Inc. stock and are trying to wrest control of the Irving, Tex.-based gas company from Chairman Boone Pickens. In it, Pickens and seven other Mesa directors are accused of illegally buying Mesa shares late last year when they knew material information about the company before it was made public. The suit also asks the court to throw out the “poison pill” plan adopted by the board July 6. Washington and Davis allege the plan is an unreasonable response to any threat toward Mesa, chills proxy contests and sets an unreasonably low trigger of 10% stock accumulation for taking effect. Mesa spokesman Jay Rosser said the suit “is totally without merit.” Mesa officials had not yet seen the lawsuit and could not comment specifically on the insider-trading allegations, he said.