Economy

A shareholder questions the fairness of the sales price – and the 39.9% grant of stock to Wells Fargo – and files suit

Piece by piece, Wells Fargo has been revealing how it intends to run Wachovia.Not so fast, some of Wachovia's shareholders are protesting, though they're facing long odds.On Monday, a Charlotte judge is scheduled to hear a shareholder's class-action lawsuit that seeks to block the impending purchase, claiming that Wells is not offering a fair price or allowing a fair vote. A ruling in favor of the shareholders could make way for a higher bidder, force Wells to offer a higher price, or even enable Wachovia to remain an independent company. The outcome also could have broader implications, setting a standard for how much voting power companies can gain and shareholders can lose.

Read the full storyat charlotteobserver.com

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