Bank of East Asia Shares Fall After Elliott’s Legal Action

Updated on
  • Lender slumps most in two weeks in Hong Kong trading
  • Elliott’s action escalates battle against BEA management

Bank of East Asia Ltd. shares dropped the most in two weeks in Hong Kong after Elliott Management started legal action alleging that the family-run lender acted improperly when issuing stock, which it says diluted minority investors and entrenched management control.

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