A dissident shareholder group has filed a class action against two Mason-Dixon Bancshares executives, alleging that they violated their duty to shareholders by not considering possible mergers or acquisitions.

Dubbing themselves Concerned Shareholders Group, 19 stockholders charged that Mason-Dixon chief executive officer Thomas Ferguson and chairman William Dulany were "roadblocks" preventing the board from hearing about merger inquiries by other financial institutions. The group estimated that shareholders may have lost $98 million.

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