KeyCorp, Execs Hit With Tax Scheme Shareholder Suit

Law360, New York (November 23, 2010, 7:56 PM EST) -- KeyCorp investors have filed a consolidated suit against the company and more than two dozen of its current and former executives, seeking damages for unlawful tax schemes that allegedly lined the pockets of directors at the expense of shareholders and eventually led to a $2 billion bill for back taxes.

The amended complaint was filed Monday in the U.S. District Court for the Northern District of Ohio, consolidating two similar suits that accused the company's directors of violating federal securities laws, breach of fiduciary duty, self-dealing,...
To view the full article, register now.




Case Information

Case Title

Monday et al v. Meyer et al

Case Number



Ohio Northern

Nature of Suit

Stockholders Suits


Donald C. Nugent

Date Filed

August 18, 2010

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.