A shareholder of a Bay City, Mich., thrift has accused its management of misleading the public about the use of risky investments and profiting from falsely inflated stock prices.

The class-action suit, filed last week against $864 million-asset Mutual Savings Bank, seeks unspecified damages.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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