Comments on: If it’s worth nothing – why are they fighting over it?

By: MadDog

MadDog — Mon, 06 Oct 2008 03:09:28 +0000

Ari, here’s an even more current update:

Citigroup Tries to Block Wells Fargo Deal; Wachovia Fires Back

…Wachovia responded yesterday with a federal lawsuit seeking affirmation of its right to accept Wells Fargo’s offer. Wells Fargo agreed to pay about $15 billion for all of Wachovia, a deal it prefers to Citigroup’s offer of about $2 billion for most, but not all, of the company.

U.S. District Court Judge John G. Koeltl gave the sides until tomorrow to file arguments…

By: MadDog

MadDog — Mon, 06 Oct 2008 02:36:20 +0000

Let’s see here now.

Would this be a New York judge making a ruling for a New York-headquartered Citi against the wishes of the out-of-state Wachovia (and not to speak of the out-of-state Wells Fargo)?

Bias? Nooooo, I can’t see anything wrong with that.

And so what if judges can’t be sued for bad legal judgment?

By: Ian Welsh

Ian Welsh — Sun, 05 Oct 2008 22:21:47 +0000

they are setting themselves up for a huge lawsuit from the shareholders. This is very dangerous.

By: JonPincus

JonPincus — Sun, 05 Oct 2008 18:56:29 +0000

A good question indeed …

By: readerOfTeaLeaves

readerOfTeaLeaves — Sun, 05 Oct 2008 18:15:00 +0000

Now, my good heavens. What an interesting point you raise.