News & Events

On October 22, 2010, Justice Judith Fabricant of the Massachusetts Superior Court, Suffolk County, denied a motion to preliminarily enjoin the shareholder vote on the proposed acquisition of LSB Corporation by People’s United Financial, Inc. Simpson Thacher represents People’s United Financial and its wholly-owned subsidiary, People’s United Bank. LSB Corporation, which operates through its River Bank subsidiary, has banking offices in Massachusetts and New Hampshire. Following oral argument on October 21, 2010, Judge Fabricant issued her ruling denying the preliminary injunction motion because the shareholder plaintiffs had failed to establish a likelihood of success on the merits of their claim that the proxy statement issued in connection with the transaction omitted material information about the financial analyses performed by LSB Corporation’s financial advisor. The shareholder vote on the transaction is scheduled for October 27, 2010.

The STB litigation team consists of Pete Kazanoff, Brijesh Dave, and Ryan Soots.