ING Slams AXA Suit Over Merger Misrepresentations

Law360, New York (June 30, 2011, 3:40 PM EDT) -- ING Insurance International BV told a New York state judge Thursday that allegations that it misled an AXA SA unit into buying a Mexico-based insurer for $1.5 billion through a stock purchase agreement were too broad.

New York Supreme Court Judge Eileen Bransten should dismiss the declaratory judgment claim in AXA Mediterranean Holding SA's complaint because it was duplicative of a breach of contract claim, a labor-organizing claim because it was time barred and the punitive damages claim because the suit was a "garden-variety" breach of...
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