BRIDGEPORT, Conn. -- Shareholders who filed a lawsuit accusing Shawmut National Corp. of failing to disclose its financial difficulties may be issued stock warrants in a settlement.

Shawmut has proposed setting up a settlement fund consisting of $4.95 million in warrants, which would give the shareholders the right to buy common stock at a given price.

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.