Colonial BancGroup Derivative Suit Gets The Boot
By Ben James ( July 22, 2009, 4:08 PM EDT) -- A federal judge has thrown out a shareholder derivative suit alleging that Colonial BancGroup Inc. announced it had gotten a preliminary green light to receive $550 million under the Troubled Asset Relief Program while withholding the fact that the bank would have to raise $300 million of its own equity to get the funding....
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