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Friday night follies…

Several large companies filed their Ks late Friday, including Dow component Alcoa (AA), which buried this little tidbit in their 280-page filing: that a woman in northern New York State is seeking class-action status on behalf of 12,000 members of the Mohawk Indians who claim that both Alcoa and General Motors (GM) are responsible for health problems stemming from one of Alcoa’s plants in Massena, NY, up along the St. Lawrence River.

Needless to say, there’s no mention of this in GM’s filings, despite the fact that the lawsuit was filed in early December. In its K, Alcoa says that it is investigating the allegations. But no matter what happens, it’s not exactly good PR for two of America’s largest corporations to be going up against an Indian tribe in New York’s northern tundra. A quick skim of the filings shows that the Massena plant was idled in May 2003, but is now operating at full capacity.

Of course, that wasn’t the only legal tidbit buried in Friday night’s filings. Terex (TEX) finally filed its 2004 K late Friday. While the news focused on the company’s restatements for 2000-2003, there was also a brief disclosure in both the K and the amended Qs that Terex had received an SEC subpoena back in early May. The company initially disclosed the subpoena in late August. But what’s particularly interesting here is the language Terex uses to describe the subpoena: the SEC "requested information to assist the SEC", which kind of makes it seem like Terex is being asked to help plan a baby shower, instead of having to rack up big-time legal bills.

Gotta love those late Friday filings before a holiday weekend…