A Shareholder Has Filed A Lawsuit Against National City Corp. (NYSE:NCC) Over Alleged False And Misleading Registration Statement In Connection With Its Fidelity Bankshares, Inc. Acquisition
A Shareholder Has Filed A Lawsuit Against National City Corp. (NYSE:NCC) Over Alleged False And Misleading Registration Statement In Connection With Its Fidelity Bankshares, Inc. Acquisition
New Shareholder Lawsuit - (DEADLINE: OCTOBER 27th, 2008)
+++ NEVER MISS A DEADLINE -> GO TO www.ShareholdersFoundation.com +++
On Tuesday, August 26th, 2008, a shareholder has filed a class action lawsuit on behalf of shareholders who obtained National City common shares in connection with the Company’s acquisition of Fidelity Bankshares, Inc. on January 5th, 2007, against National City Corporation (NYSE: NCC) in the Fifteenth Judicial Circuit Court in West Palm Beach, Florida accusing the company of securities law violations.
If you held Fidelity Bankshares, Inc. and/or purchased National City Corporation (NYSE: NCC) common shares in connection with the Company’s acquisition of Fidelity Bankshares, Inc. on January 5th, 2007, you have certain rights and there are strict and short deadlines running (October 20th, 2008). You should immediately contact the Shareholders Foundation, Inc.!
Shareholders Foundation, Inc.
3111 Camino del Rio North
– Suite 423 –
San Diego, CA 92108
Fax: +1-(858)-605-5739(Facsimile)
On July 27th, 2006, National City Corp. announced that it had reached a definitive agreement for its acquisition of Fidelity Bankshares, where Fidelity stockholders could elect to receive $ 39.50 in cash or 1.0977 shares of National City common stock subject to allocation procedures that would allow 50% of the Fidelity shares outstanding to receive cash and 50% to receive stock. The lawsuit claims that National City and a number of individual defendants violated Sections 11 and 15 of the Securities Act of 1933, 15 U.S.C. Sections 77k and 77o. According to the complaint, the Registration Statement filed in connection with the Fidelity Acquisition contained materially misleading statements and omissions. For instance the lawsuit alleges that the Registration Statement failed to disclose that the origination standards of the Construction Loans were not prime quality loans and that the financial statements incorporatedinto this Registration Statement contained materially false and misleading reported figures. The plaintiff seeks damages for violations of securities laws on behalf of all current and former National City shareholders who acquired the Company’s common stock pursuant to and/or traceable to the Company’s Registration Statement filed with the Securities and Exchange Commission (”SEC”) in connection with the Fidelity Bankshares, Inc Acquisition. Headquartered in Cleveland, Ohio, National City is a financial holding company that provides commercial and retail banking services throughout the United States.
If you purchased National City Corporation (NYSE: NCC) common shares in connection with the Company’s acquisition of Fidelity Bankshares, Inc. on January 5th, 2007, you have certain rights and there are strict and short deadlines running (October 20th, 2008). You should immediately contact the Shareholders Foundation, Inc.!
Shareholders Foundation, Inc.
Allen Trevor
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739 Mail@ShareholdersFoundation.com
At Shareholders Foundation, Inc. we represent a large number of shares and shareholders. We are able to use our size to negotiate with significantly greater efficacy than the single investor with investigators, attorneys, and defendants. At Shareholders Foundation, Inc. we believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder by matching shareholder problems with the right legal experts, and finding equitable solutions. Shareholders Foundation, Inc. is comprised of a network of legal experts who both contribute to our vision for the Shareholders Foundation, Inc. and also represent the shareholders in real cases.
