Taylor Capital's $680M MB Deal Cheats Investors, Suit Says

Law360, New York (July 30, 2013, 6:29 PM EDT) -- A shareholder hit Taylor Capital Group with a proposed class action in Illinois court Friday, alleging the Chicago bank ripped off its public stockholders when it manufactured a $680 million deal to sell the company for too low a price to MB Financial Inc. last month.

Lead plaintiff James Sullivan claims Taylor Capital breached its fiduciary duties by attempting to sell the bank to MB Financial without ensuring a fair price for its public stockholders. The deal is valued at $680 million in cash and stock...
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