M&T Asks High Court To Tackle 'Nightmare' Disclosure Ruling

Law360 (November 18, 2020, 5:49 PM EST) -- M&T Bank Corp. has asked the U.S. Supreme Court to examine the "nightmare scenario" created by a Third Circuit ruling that companies must disclose unknown facts and admit to wrongdoing that has not been charged by regulators, saying the decision creates a path for investors to extort settlements from innocent businesses.

In a petition for a writ of certiorari made public Tuesday, M&T, Hudson City Bancorp and related defendants urged the high court to review a June 18 circuit opinion reviving a proposed securities class action alleging M&T failed to disclose certain risk factors related to the companies' $3.7 billion merger...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!