Fifth Third Bancorp Hit With Another Shareholder Suit

Law360, New York (August 13, 2008, 12:00 AM EDT) -- Another securities class action has been launched against Fifth Third Bancorp, one of the largest money managers in the U.S. Midwest, alleging that the financial services company deliberately failed to disclose its financial troubles to shareholders prior to a proposed acquisition.

In the complaint filed Aug. 12 in the U.S. District Court for the Southern District of Ohio, plaintiff Sam McGee claims that Fifth Third and its senior officers violated federal securities laws by filing an inaccurate and misleading registration/proxy statement that convinced shareholders of First...
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