Proposed Settlement Offered In National City Bank Securities Litigation
A proposed settlement has been filed in the case of In re National City Corporation Securities, Derivative & ERISA Litigation Class Action, MDL No. 2003, Northern District of Ohio Case No. 1:08-NC-70004. Under the proposed settlement, all persons or entities who purchased or otherwise acquired National City common stock between April 30, 2007 and April 21, 2008, as well as all persons who acquired National City common stock pursuant to a National City SEC Registration Statement in connection with National City's acquisition of MAD Bancorp in September 2007, would receive a cash award from the settlement pool of $168 million. The settlement must be preliminarily approved by Judge Soloman Oliver.
