ING Hit With 3rd Shareholder Class Action

Law360, New York (March 26, 2009, 12:00 AM EDT) -- Investors who purchased billions of dollars of securities from ING Groep NV have launched another putative class action alleging the Dutch financial services giant deceived the public about its parlous mortgage-related exposures.

The complaint, lodged Monday in the U.S. District Court for the Southern District of New York, accuses ING, its officers and various underwriters, of issuing materially false and misleading documents in relation to the June 2007 offering of its 6.375 percent ING Perpetual Hybrid Capital Securities.

The underwriters, including Wachovia Corp., Merrill Lynch &...
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