SAN DIEGO, Jan. 27, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of CenterState Bank Corporation (NASDAQ: CSFL) ("CenterState") breached their fiduciary duties in connection with the proposed sale of the Company to South State Corporation (NASDAQ: SSB) ("South State").
On January 27, 2020, CenterState announced that it had signed a definitive merger agreement with South State. Under the terms of the merger agreement, CenterState shareholders will receive 0.3001 shares of South State common stock for each share of CenterState common stock they own.
The investigation concerns whether the CenterState board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for CenterState shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $28.00 price target on the stock. The 52-week high for CenterState was $26.83.
If you are a shareholder of CenterState and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ( email@example.com ) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP: Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact: Johnson Fistel, LLP Jim Baker, 619-814-4471 firstname.lastname@example.org
SOURCE Johnson Fistel, LLP