We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Court Rejects Attempt To Block Bank Merger

Law360 (August 20, 2007, 12:00 AM EDT) -- A judge has denied a bid by minority shareholders of a Massachusetts bank to block a merger with a mutual holding company, ruling their rights had to be weighed against those of the community at large.

Describing the pending merger with Assabet Valley Bancorp as a valuable opportunity to join with a “strong strategic partner,” Massachusetts judge Peter Agnes said a permanent injunction would jeopardize the future of Westborough Bank and potentially harm the local economy.

Lawyer for Westborough Richard Schaberg, of Thacher Proffitt, said the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.