Guidance For Directors Of Mutual Holding Companies
October 3, 2007, 12:00 AM EDT
Law360 (October 3, 2007, 12:00 AM EDT) -- The Westborough Bank, Westborough Financial Services Inc. and Westborough Bancorp MHC scored a significant victory in court in the first merger-related litigation involving a mid-tier bank holding company, Philippe E. Gut and Gwen Pratt Gut v. Joseph F. MacDonough, et al., Civ. No. WOCV2007-01083 (Mass. Sup. Ct. Aug. 14, 2007).
Richard A. Schaberg of our Washington D.C. office represented Westborough in the merger, and Kenneth E. Lee of our New York office argued the case in court. This decision by the Massachusetts Superior Court analyzes the...