Sovereign Motion Dismissed in Court Amid Verbal Blitz
By Marius Meland
Law360, New York (January 25, 2006, 12:00 AM EST) -- A fusillade of filings, accusations, lawsuits and counterstrikes between Sovereign Bancorp. and its largest institutional investor has led a federal judge to order the combatants to curb their public attacks on each other and stop filing papers, while also killing a motion by the Philadelphia company to dismiss two lawsuits by its shareholder.
In their legal filings, both Sovereign and its top shareholder Relational Investors have used harsh and loaded language to assault each other. In various letters and complaints, Relational has addressed its foe in...