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

Sovereign and Relational Settle Bitter Legal Dispute

Law360 (March 23, 2006, 12:00 AM EST) -- Sovereign Bancorp and its biggest shareholder Relational Investors LLC penned a settlement deal on Wednesday, ending a protracted legal dispute that has ensnared the two companies for the last five months.

"We are delighted to have these disputes resolved and put behind us," said Jay Sidhu, president, chairman and CEO of Sovereign, in a statement.

Relational, an asset management firm, has been embroiled in a legal tussle with Pennsylvania-based Sovereign after the bank announced plans to sell a 19.8% ownership stake to Spain's Grupo Santander for...
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.