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 (jimb@johnsonfistel.com)
at 619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
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
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP