KeyCorp, First Niagara settles one class-action lawsuit

KeyCorp and First Niagara Financial Corp are to settle at least one class-action lawsuit brought against the companies in the wake of KeyCorp's announcement that it plans to buy First Niagara for $4.1bn. They have settled, separately, in principle all class-action lawsuits filed in New York, and, pending court approval, the settlement will release both firms from all claims related to KeyCorp's acquisition of First Niagara.

By Matt Chiappardi (March 9, 2016, 9:50 PM EST) -- First Niagara Financial Group and KeyCorp said in separate regulatory filings Wednesday that they had settled shareholder litigation challenging their proposed $4.1 billion merger in New York state court, but the future of a similar case in the Delaware Chancery Court remained unclear....

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