(Reuters) - The plaintiff, former MBNA shareholder Lemon Bay Partners
LLP, had accused former MBNA executives and directors of "gross
mismanagement" and making misleading statements about the
company's expected financial performance.
MBNA's share price sank more than 16 percent to below $19
on April 21, 2005 after the company slashed its full-year
earnings forecast and posted a surprise 94 percent decline in
quarterly profit, citing unexpectedly high U.S. payment volumes
and costs for retirement and severance programs.
Read more at Reuters.com Mergers News
LLP, had accused former MBNA executives and directors of "gross
mismanagement" and making misleading statements about the
company's expected financial performance.
MBNA's share price sank more than 16 percent to below $19
on April 21, 2005 after the company slashed its full-year
earnings forecast and posted a surprise 94 percent decline in
quarterly profit, citing unexpectedly high U.S. payment volumes
and costs for retirement and severance programs.
Read more at Reuters.com Mergers News
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