Paul, Weiss, Rifkind, Wharton & Garrison LLP | Canada | 31 Oct 2008
The $52 billion sale of BCE, Inc., Canada’s largest telecom operator, to a private equity consortium is facing a fresh legal challenge in the form of a class action lawsuit, brought by holders of the company’s common stock, that seeks $588 million plus punitive damages for recovery of dividends that were suspended during the second and third quarters this year.