Sovereign Bancorp Inc.

Recent Events

News & Analysis

sec and sovereign bancorp inc. - All News and Analysis

• Relational Challenges Pennsylvania Legislation: Constitutional Mandates Sidestepped for Sovereign

  - 2006-03-02

  SAN DIEGO -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV) with approximately 8.4% of the outstanding shares, announced today that it has filed a lawsuit against the Commonwealth of Pennsylvania seeking to invalidate Act 6 of 2006, the recently enacted special legislation passed for the...

  Tags: FINANCE, SEC, shareholder, Sovereign Bancorp Inc.

• Relational Investors Responds to Proposed Pennsylvania Legislation

  - 2006-02-03

  SAN DIEGO, Calif. -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV) with 8% of the outstanding shares, today issued the following statement in response to passage of SB-595 by the Pennsylvania Legislature: "According to press reports, including an article in this morning's Philadelphia Inquirer,...

  Tags: FINANCE, investor, SEC, shareholder, Sovereign Bancorp Inc.

• Relational Sues Sovereign and Santander; Alleges Pennsylvania Law Obligates Santander to Pay ``Fair Value'' to All Shareholders

  - 2005-12-12

  SAN DIEGO -- Relational Investors LLC, the largest shareholder of Sovereign Bancorp, Inc. (NYSE: SOV), announced today that it has filed a lawsuit in U.S. District Court for the Southern District of New York against Sovereign Bancorp, Inc. and Banco Santander Central Hispano, S. A. (NYSE: STD). The lawsuit...

  Tags: FINANCE, SEC, shareholder, Sovereign Bancorp Inc.

• Relational Requests Clarification of Major Contradiction in Sovereign's Statements

  - 2005-11-10

  SAN DIEGO -- On October 25, 2005, during an investor conference call sponsored by Sovereign Bancorp, Inc. (NYSE: SOV), Sovereign's Chairman and CEO Mr. Jay S. Sidhu made the following statement:"It (the Investment Agreement between Banco Santander Central Hispano, S.A. and Sovereign (the "Investment Agreement")) ...

  Tags: Company, FINANCE, Investment, SEC, Sovereign Bancorp Inc., Strategy

• Relational Petitions NYSE to Require Shareholder Vote

  - 2005-11-08

  SAN DIEGO -- Relational Investors ("Relational") today submitted a petition to the New York Stock Exchange NYSE to require a shareholder vote for the proposed Sovereign Bancorp (NYSE: SOV) transaction with Banco Santander. Relational, the largest shareholder of Sovereign Bancorp, is also seeking the election of two independent directors to...

  Tags: FINANCE, NYSE Euronext, SEC, shareholder, Sovereign Bancorp Inc.

• Main Street Bancorp, Inc. Announces 22% Increase in Third Quarter Operating Income

  - 2001-10-23

  Business Editors READING, Pa.--BUSINESS WIRE--Oct. 23, 2001 Main Street Bancorp, Inc., (NASDAQ:MBNK) announced today operating income, which excludes realized securities losses, special charges and other one-time charges, net of taxes, was $2.8 million, or $0.26 per share, for the third quarter of 2001, compared to $2.3 million, or...

  Tags: asset, bank, benefit, Company, equity, FINANCE, income, merger, reversal, SEC, security, Sovereign Bancorp Inc., Taxes

• The Philadelphia Inquirer Loose Change Column.

  - 2001-10-09

  By Joseph N. DiStefano, The Philadelphia Inquirer Knight Ridder/Tribune Business News Oct. 9--SOVEREIGN ALLEGES $2 MILLION FRAUD: On July 23, Sovereign Bancorp told investors it had suffered an "unusual loss in a branch" that cut $2 million off its second-quarter profit. ...

  Tags: FINANCE, Mortgages, SEC, Sovereign Bancorp Inc., Symbol Technologies Inc.