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BRIEF: Lawsuits filed to stop National City sale(The Pittsburgh Tribune-Review Via Acquire Media NewsEdge) Dec. 7--National City Corp. shareholders have filed about a dozen lawsuits in courts in Ohio, Delaware and elsewhere opposing the pending sale of the Cleveland-based bank to PNC Bank. National City is being acquired by Pittsburgh-based PNC Financial Services Group Inc. for $5.6 billion. Shareholders of National City and PNC will get a chance to vote on the proposed sale at meetings scheduled for Dec. 23. Former Ohio Attorney General Marc Dann is one shareholder who has asked a judge to grant an injunction delaying the sale. Dann, who resigned as Ohio's attorney general amid a sexual harassment scandal in May, says the sale price is too low. Several lawsuits have been rolled into a class-action suit filed three days after the sale was announced in October. To see more of The Pittsburgh Tribune-Review or to subscribe to the newspaper, go to http://www.pittsburghlive.com/x/pittsburghtrib/. Copyright (c) 2008, The Pittsburgh Tribune-Review Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |