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JUNE 26, 2001

Shareholders of Calista Corp., an Alaska Native corporation, failed to recall the entire board at a recent vote.

The recall had been initiated after some village leaders became upset that Calista was competing for federal funds typically used by village organizations. But only 17 percent of total shareholders voted in favor of a recall.

Shareholders instead re-elected three directors whose three-year terms will end in 2004.

The state Division of Banking, Securities and Corporations is investigating a complaint that Calista provided false information to shareholders.

Get the Story:
Calista members thwart recall drive (The Anchorage Daily News 6/26)

Relevant Links:
Calista Corp. Overview, Juneau Empire - http://juneaualaska.com/between/calista.shtml

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Native village corps hit with $11M debt (6/1)
Alaska Native housing plan rejected (5/29)
Audit: Alaska Native dorm improperly approved (4/17)