Pomerantz Law Firm Files Shareholder Class Action Against Marshall & Ilsley Alleging Breaches of Fiduciary Duty -- MI
December 23 2010 - 12:15PM
Pomerantz Haudek Grossman & Gross LLP (www.pomerantzlaw.com)
("Pomerantz") has filed a shareholder class action lawsuit in the
United States District Court, Eastern District of Wisconsin,
against Marshall & Ilsley Corporation ("M&I" or the
"Company") (NYSE:MI), certain officers and/or directors of the
Company, and Bank of Montreal Financial Group ("BMO"). The
Complaint alleges that Defendants breached their fiduciary duty
and/or aided and abetted such breaches of fiduciary duty by
undertaking an unfair process in connection with their agreement to
enter into a merger transaction whereby the Company will be
acquired by BMO for an unfair price in a proposed stock-for-stock
transaction. Under the terms of the definitive agreement, each
outstanding share of M&I will be exchanged for 0.1257 shares of
BMO upon closing. Based on the closing share price of BMO on the
Toronto Stock Exchange of CAD$62.05 on December 16, 2010, the
transaction values each share of M&I at USD$7.75.
A copy of the complaint can be obtained at www.pomerantzlaw.com.
If you are a shareholder who owns M&I securities and wish to
obtain additional information, please contact Rachelle R. Boyle at
rrboyle@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free.
Those who inquire by e-mail are encouraged to include their mailing
address and telephone number.
The Pomerantz Firm, with offices in New York, Chicago and
Washington, D.C., is acknowledged as one of the premier firms in
the areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L. Pomerantz, known as the dean of the
class action bar, the Pomerantz Firm pioneered the field of
securities class actions. Today, more than 75 years later, the
Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of
fiduciary duty, and corporate misconduct. The Firm has recovered
numerous multimillion-dollar damages awards on behalf of class
members. See www.pomerantzlaw.com.
CONTACT: Pomerantz Haudek Grossman & Gross LLP
Rachelle R. Boyle
888-476-6529 (ext. 237)
rrboyle@pomlaw.com
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