Shareholder Group Sues Over Fortis Nationalization

Law360, New York (April 24, 2009, 12:00 AM EDT) -- A group representing Fortis NV shareholders has reportedly sued the Dutch state for allegedly hurting investors during the nationalization of Fortis Bank Nederland.

Dutch shareholders group VEB and affiliated Belgian group Deminor have accused the Dutch state of forcing Fortis to sell the government Dutch insurance activities at incorrect market price between Sept. 29 and Oct. 4, Dow Jones reported Friday.

The shareholders claim that the Dutch government actually caused some of Fortis' financial woes and are demanding money for the company and its investors, Dow...
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