7,000 FORTIS SHAREHOLDERS TO SUE BANK

About 7,000 shareholders of troubled bank Fortis NV indicated last Monday they will take legal action against the company's management, claiming they were cheated by a government bailout plan that carved up the company and left them holding toxic assets.

The Euro shareholders association says it will sue the bank's bosses under Dutch law for dismantling the company without asking shareholder permission. That could derail government plans to rescue the bank which sought state help after it failed to get enough credit on frozen markets. read more (expatica.com)

LEGAL ACTION AGAINST FORTIS MOUNTS read more (dutchnews.nl)
'NEGATIVE' FORTIS NAME TO GO IN HOLLAND read more (dutchnews.nl)

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October 20, 2008