First Financial Holdings Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binko...
20 Fevereiro 2013 - 7:21PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the Board of Directors of
First Financial Holdings Inc. (“First Financial” or the “Company”)
(NASDAQ: FFCH) related to the proposed acquisition of the Company
by SCBT Financial Corporation. Pursuant to the terms of the
acquisition, First Financial shareholders will receive 0.4237
shares of SCBT common stock per share of First Financial common
stock held. The transaction is valued at approximately $302.4
million or $18.30 per share, based on Tuesday’s closing price.
This investigation concerns whether the Board of Directors of
First Financial breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. The Company has seen substantial recent growth. Its
share price has skyrocketed from $8.59 on June 5, 2012 to $16.64 on
February 12, 2013.
If you are a shareholder of First Financial, if you have
information or would like to learn more about our investigation, or
if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Louis Boyarsky, Esquire,
Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite
2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll
Free at (888) 773-9224 or by email to
shareholders@glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
First Financial (NASDAQ:FFCH)
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