The Canadian Imperial Bank of Commerce and its directors inflated share price by hiding their exposure to subprime-mortgage backed securities, shareholders say in Manhattan Federal Court.
Directors of PFF Bancorp are selling out for virtually nothing – $1.35 a share – to FBOP Corp., according to a shareholders derivative lawsuit in Delaware Chancery Court.
Nevada Chemicals is selling itself to Oaktree Capital Management and Cyanco Holding Corp. for the “grossly inadequate” price of $13.37 per share, stockholders say in Salt Lake County Court. The company makes cyanide, which is used in gold mining.
Directors of TurboChef Technologies are selling the company too cheaply to The Middleby Corp., for $6.47 a share, shareholders say in Delaware Chancery Court.
Directors of the Friedman, Billings, Ramsey Group grossly overpaid themselves while mismanaging the company, shareholders say in Arlington County Court, Va.