Judge Tosses Suit Over $3.7B M&T, Hudson City Deal

Law360, New York (October 27, 2017, 6:32 PM EDT) -- A federal judge in Delaware on Friday dismissed a proposed shareholder class action alleging that M&T Bank Corp. and Hudson City Bancorp Inc. hid regulatory problems that led to a years-long delay in their $3.7 billion merger.

U.S. District Judge Richard G. Andrews said that the two banks had sufficiently disclosed Federal Reserve investigations into M&T’s compliance with Bank Secrecy Act and other anti-money laundering requirements that ultimately delayed the merger and that the banks were not required to disclose a Consumer Financial Protection Bureau investigation...
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