December 10, 2008 > Judge says Wachovia didn't fix sale vote
Judge says Wachovia didn't fix sale vote
Submitted By AP Wire Service
NEW YORK (AP), Dec 06 _ In a ruling Friday, a judge denied a shareholder claim that Wachovia Corp. fixed an upcoming shareholder vote by granting more than 40 percent voting rights in preferred shares to Wells Fargo & Co., which is trying to acquire the Charlotte-based bank, The Wall Street Journal reported Saturday.
Charlotte, N.C., Judge Judge Albert Diaz said Wells Fargo still has not secured an absolute majority of votes required, and shareholders owning nearly 60 percent can still vote for or against the combination, the newspaper said in a report published on its Web site. The vote is scheduled for Dec. 23.