Efforts by Sovereign Bancorp to prevent the removal of its directors without cause have been turned aside by a federal judge.
Southern District of New York Judge Alvin K. Hellerstein said a change in Pennsylvania law pursued by Sovereign to fend off removal of directors by its largest shareholder cannot be retroactively applied.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
For questions call 1-877-256-2472 or contact us at [email protected]