Tower Bancorp Ends 2 Suits Over $336M Susquehanna Merger

Law360, Chicago (June 12, 2012, 6:04 PM EDT) -- A Pennsylvania federal judge gave an initial green light Tuesday to Tower Bancorp Inc.'s proposed class settlement of two shareholder derivative suits challenging the company's $336 million sale to Susquehanna Bancshares Inc.

U.S. District Judge Sylvia H. Rambo issued an order preliminarily approving the settlement and certifying the class of all people or entities who held Tower common stock from the day the merger was publicly announced on June 20, 2011, to Feb. 17, the day the merger was completed.

As part of the deal, Susquehanna...
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