Joe Lewis, the British billionaire who has lost almost $1 billion (£505 million) on his investment in Bear Stearns, is confident that he will be able to block the takeover of the stricken investment bank by JPMorgan Chase before the deal is completed in three months.
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posted by BHF at 9:26 AM
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Russell Hubbard of the Birmingham News reports that Regions Financial Corp., the largest bank based in Alabama, has been sued by a second shareholder who says the company hid its exposure to high-risk mortgages.
Arkansas shareholder William Stephens filed the suit April 1 in U.S. District Court in Birmingham. The suit wants unspecified damages repaid to the company, and directors and officers held responsible.
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posted by BHF at 4:25 PM
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