Shareholders say Hearst-Argyle Television is selling itself too cheaply to Hearst Corp., for $4 a share. That’s 91% more than the stock’s March 24 closing price, but far below its 52-week average price of $14.46, according to the complaint in Delaware Chancery Court.
Shareholders say Cox Radio is selling itself too cheaply to Cox Media Group, for $3.80 a share, in Delaware Chancery Court.
Wells Fargo defrauded investors with false and misleading statements about its mortgage underwriting practices, a class action claims in San Francisco Federal Court.
ING Groep NV inflated the price of its securities through false and misleading statements, according to a class action in Manhattan Federal Court. Also sued are ING Financial Holdings Corp., Stichting ING Aandelen, ING Financial Markets LLC, UBS Securities LLC, Citigroup Global Markets Inc., Merrill Lynch Pierce Fenner & Smith Inc., Wachovia Capital Markets LLC, Morgan Stanley & Co. Inc., Banc of America Securities LLC, RBC Capital Markets Corp., J.P. Morgan Securities Inc., Credit Suisse Securities LLC, HSBC Securities Inc., Michel Tilmant, Cees Maas, J. Hans Van Barneveld, Eric Boyer De La Giroday, Fred Hubbell, Eli Leenaars, Alexander Rinnooy Kan, Hans Verkoren, John Egan, A.H.J. Risseeuw, H.J. Blaisse, P.M.L. Frentrop, T. Regtuijt, and J.J.M. Veraart.