Telmex Omitted Info On $6.5B America Movil Deal: Suit

Law360, New York (October 26, 2011, 4:38 PM EDT) -- A Telefonos de Mexico SAB de CV shareholder lodged a putative class action Friday over the telecom's proposed $6.5 billion merger with America Movil SAB de CV, accusing it of failing to provide pertinent information to investors before a vote on the deal is held.

Plaintiff Stan La Corte alleges in the complaint filed in New York federal court that Telmex, Latin America's largest phone carrier, violated the Securities Exchange Act by not including information regarding financial adviser Morgan Stanley's reason for using adjusted financial projections...
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