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The battle between Sovereign Bancorp and Relational Investors has grown nastier, with the Philadelphia bank suing its largest shareholder. Sovereign filed the suit last week against Relational, which holds 7.3 percent of the bank's stock, and denied the investment firm's demand for access to the bank's books and records. The suit came a day after Relational took out a large advertisement in major newspapers denouncing the Sovereign chairman and six of his directors as "long-term liabilities."
November 14, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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