Regions Gets Subpoenas Axed In Action Over AmSouth Buy

Law360, New York (November 4, 2011, 4:44 PM EDT) -- Regions Financial Corp., the subject of a shareholder class action in Alabama over its 2006 purchase of AmSouth Bancorp, on Friday won its bid to quash subpoenas served on Ernst & Young LLP and Sullivan & Cromwell LLP.

In a brief order, U.S. District Judge Inge Prytz Johnson granted Regions' motion to quash, which had argued that the documents the plaintiffs sought were privileged or protected.

The plaintiffs — who allege that due to Regions' shoddy internal controls, it was not until the bank came under...
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