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Wednesday, Sep 11
Wilmington Trust sued for $100M by Mennen heirs
- M&T Bank's (MTB -0.3%) Wilmington Trust unit is sued by heirs to Mennen Co.fortune (Speed Stick deodorant) for $100M in damages due to investment losses.
- Wilmington Trust took no restorative action as a co-trustee "wrongly dissipated" trust assets through investments in failing businesses, according to the redacted complaint.