Wachovia shareholder files suit to block merger
Posted on 21 Oct 2008 by Matthew Tyndall
“Irving Ehrenhaus has filed a class-action lawsuit asking N.C. Business Court Judge Albert Diaz to stop the $15 billion acquisition. In the first shareholder suit related to the deal, Ehrenhaus complains the merger announced Oct. 3 is in breach of Wachovia board members’ fiduciary duties, saying the bank will essentially force shareholders to approve the sale.”
Read more by Kirsten Valle at the Observer.