SANTIAGO, Sept 26 (Reuters) - U.S. investment firm Cartica Management said a New York court has dismissed the lawsuit it had brought against Chilean bank CorpBanca, trying to block CorpBanca’s planned merger with a Brazilian bank.
Cartica said it was disappointed in the decision, which it said was made on technical grounds. It said it would keep trying to prevent the transaction via channels in Chile.
Brazilian bank Itau Unibanco Holding is seeking to win control of CorpBanca in what would be Latin America’s largest banking merger since 2008. Minority Corpbanca shareholder Cartica has battled against the deal, claiming that important information was withheld.
The U.S. court for the Southern District of New York “dismissed its securities fraud claims on (a) technical question,” said Cartica on Friday.
It has asked Chile’s financial regulator to look at the deal, and said it would “pursue all other remedies” available in the Chilean courts should the deal go through.
CorpBanca, which has previously called the lawsuit without merit, declined to give immediate comment on Friday. (Reporting by Rosalba O‘Brien and Felipe Iturrieta; Editing by David Gregorio)