Shareholder Class Claims Regions Financial|Directors Acted Like Hogs at the Trough

BIRMINGHAM, Ala. (CN) – Directors of Regions Financial Corp. abused their control, wasted corporate assets and made false and misleading statements during and after their $10 billion acquisition of AmSouth, then used federal TARP money to approve excessive bonuses to insiders, despite prohibitions against doing that, shareholders say in a class action in Jefferson County Court.

     (These two documents total 185 pages. The complaint begins on page 32, after 31 pages of summonses, on the document linked to the icon. Here is a link to the concluding portion.)

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