NEW YORK, Jan. 21, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of IBERIABANK
Corporation ("IBKC" or the "Company") (NASDAQ: IBKC) in
connection with the proposed acquisition of the Company by First
Horizon National Corp. ("FHN") (NYSE: FHN). Under the terms of the
acquisition agreement, IBKC shareholders will receive 4.584 shares
of FHN for each IBKC share they own, representing consideration of
$77.19 based on FHN's November 4 closing price.
If you own IBKC shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/iberiabank-corporation/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether IBKC's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, the per-share consideration is
$14.81 less than the analyst target
price of $92.00, and $4.67 less than IBKC's 52-week high of
$81.86. Additionally, after the
close of the transaction FHN shareholders will own 56% of the
combined company, leaving the minority share of 43% to IBKC and its
shareholders.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP