North Carolina Business Litigation Report

First Union Corp. v. Suntrust Banks, Inc., 2001 NCBC 7 (N.C. Super. Ct. June 26, 2001)(Tennille)

The challenge to the provisions of a merger agreement by a spurned acquiror would be governed by the law of North Carolina, because that was the place of execution of the merger agreement at issue and therefore the place of the last act causing injury, and also because North Carolina was the state having the most significant relationship to the controversy.

There was no unfair and deceptive practices claim to be made because the transaction involved securities.

Full Opinion

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Mack Sperling
Brooks Pierce, LLP
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