First Union Corp. shareholders have filed a class action against the banking company, alleging that its officials made false and misleading statements about earnings and the takeover of Money Store Inc. and CoreStates Financial Corp.

First Union cut its profit forecast last month because of difficulties in merging its operations with CoreStates, which it bought in April 1998 for $19.8 billion. The bank also has had problems integrating Money Store, which it bought last June for $2.1 billion.

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