Continental Fires its First Legal Salvo, Attorneys Seek Cease and Desist of Merger Campaigning

ATLANTA — Frustrated with Wings Financial Federal Credit Union’s continued campaign to urge members to call for a vote indicating interest in a merger, Continental Federal Credit Union has requested a formal cease and desist of all campaign activities. According to an April 9 letter obtained by Credit Union Times, attorneys for $182 million Continental have called on $1.6 billion Wings Financial to end its “hostile takeover campaign” including discontinuing “unlawful conduct, all misleading and deceptive statements and the Web site Wings Financial is running at continentalwings.com.” Failure to do so, according to the letter, “will require Continental FCU to consider all available legal, equitable and regulatory remedies.”