Meritor Shareholders Win Appeal Over 1992 FDIC Seizure
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Meritor Savings Bank shareholders won an appeals court ruling that may let them collect $276 million from the Federal Deposit Insurance Corp. over broken promises that led to the company’s 1992 seizure.
Shares in the defunct company rose 41 percent after the U.S. Court of Appeals for the Federal Circuit today reinstated a judgment against the FDIC, rejecting arguments that the case should have been tried by a different court.