M&T Bank Escapes Hudson City Investors’ Lawsuit Over Acquisition

M&T Bank Corp. defeated a decade-old lawsuit over alleged misrepresentations or omissions in paperwork sent to Hudson City Bancorp. shareholders who approved its acquisition.

M&T was barred from making certain disclosures due to the bank examination privilege, said US Court of Appeals for the Federal Circuit Judge Evan J. Wallach, sitting in the US District Court for the District of Delaware by designation. If M&T shared agency opinions and recommendations as these Hudson City shareholders sought, it would’ve violated that privilege and federal regulations on the disclosure of confidential supervisory information.

The US Court of Appeals for the Third ...