Shareholders File Suit Against North Fork Merger

Law360, New York (May 5, 2006, 12:00 AM EDT) -- In class action lawsuits, shareholders of consumer bank North Fork Bancorp are asking “what’s in our wallet,” claiming they will be short-changed if the lender goes through with its planned merger with Capital One Financial Group.

The shareholders filed four separate putative class action complaints against North Fork and its directors after investors accused the directors of failing to maximize shareholder value in the transaction and breaching their fiduciary duties in doing so.

The actions allege that North Folk and its directors failed to disclose in...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.