Tyco Investors File Suit To Block Split

Law360, New York (February 15, 2006, 12:00 AM EST) -- Tyco International’s plan to split the company into three entities has come under fire from shareholders, who say the plan is just an attempt to protect the company from lawsuits stemming from the 2002 accounting scandal.

A group of institutional investors has filed a lawsuit against the conglomerate in an attempt to block the split until the company promises that all of its combined assets will be available to pay any settlements in the pending lawsuits against the company.

The plaintiffs in the suit, including the...
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