trending Market Intelligence /marketintelligence/en/news-insights/trending/V2MyubhfekPIsJOl6w6D6w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Old National enters MOU to settle merger-related lawsuit

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

The Evolution of ESG Factors in Credit Risk Assessment: Environmental Issues


Old National enters MOU to settle merger-related lawsuit

Evansville, Ind.-based OldNational Bancorp reported that on March 31, it and Madison, Wis.-basedAnchor BanCorp Wisconsin Inc.entered into a memorandum of understanding to settle a lawsuit opposing the companies' pending merger.

According to a Form 8-K filed April 1, the company said it deniesthe allegations against it in the suit, but is agreeing to settle to avoid the costsand disruptions of any further litigation and to permit the timely closing of thepending merger with Anchor.

The agreement requires additional disclosures in the proxy statementand prospectus regarding the merger, and the defendants agreed to pay the plaintiffs'attorneys fees. The agreement is subject to confirmatory discovery by the plaintiffand court approval, and the filing stated there is no guarantee the parties willultimately enter into a settlement.