A federal judge in Detroit this week refused Michigan National Corp.'s request to dismiss a shareholder suit accusing it of fraud.

The suit involves the Farmington Hills-based bank's repurchase of more than two million shares of stock at a price substantially lower than what National Australia Bank Ltd. later agreed to pay in a merger deal.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.