Law360, New York (September 01, 2010, 5:02 PM ET) -- A federal appeals court has shot down a bid from a putative class of former First Commerce Corp. debenture holders who claimed they were entitled to a cash settlement from JPMorgan Chase & Co. equal to the $40 million the financial services giant paid to end a shareholder securities action over the merger of First Commerce and Banc One Corp.
The debenture holders failed to present facts supporting their argument that proceeds from the settlement should represent post-merger consideration, according to a per curiam opinion handed...
5th Circ. Sides With JPMorgan In Dispute Over Merger
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