Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the merger of First Financial Holdings, Inc. (“First Financial”) (Nasdaq: FFCH) with SCBT Financial Corporation for shareholders. Under the terms of the proposed merger valued at approximately $302.4 million, First shareholders will only receive 0.4237 shares of SCBT common stock per share of First common stock. Based on Tuesday’s closing price, the proposed consideration is valued at approximately $18.30 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The First Financial merger investigation centers on whether First Financial’s shareholders are receiving adequate compensation for their shares in the proposed merger, whether the transaction undervalues First Financial’s stock, and whether First Financial’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, “based on the stock for stock nature of the deal, the value of the consideration, and other factors, we are concerned that this transaction may undervalue First Financial’s stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.