North Fork investors sue to block Capital One deal

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00023071-north-fork-investors-sue-to-block-capital/

Hoping to be the David to Capital One?s Goliath, North Fork Bancorp Inc. is filing suit against Capital One to block Capital One?s planned takeover of the regional North Fork, according to a Reuters story.

The lawsuit accuses Capital One of abusing and breaching their fiduciary duty, failing to maximize shareholder value in the takeover.

Planning a one-two combination, North Fork has also filed a separate suit against Capital One that challenges the planned compensation to be paid to bank executives as part of the buyout deal.

You can read more about this story at North Fork investors sue to block Capital One deal.