An investigation on behalf of investors of IBERIABANK Corporation (NASDAQ: IBKC) in connection with the proposed takeover was announced and NASDAQ: IBKC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/14/2020 -- An investigation was announced concerning whether the takeover of IBERIABANK Corporation is unfair to NASDAQ: IBKC stockholders.
Investors who purchased shares of IBERIABANK Corporation (NASDAQ: IBKC) and currently hold any of those NASDAQ: IBKC shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of IBERIABANK Corporation breached their fiduciary duties owed to NASDAQ: IBKC investors in connection with the proposed acquisition.
Lafayette, LA based IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. On November 4, 2019, First Horizon National Corp. (NYSE: FHN) and IBERIABANK Corporation (NASDAQ: IBKC) announced that they have entered into a definitive agreement under which the companies will combine in an all-stock merger of equals. Under the terms of the deal, IBERIABANK shareholders will receive 4.584 shares of First Horizon for each IBERIABANK share they own. Based on a closing price of $16.31 per NYSE: FHN shares investors in NASDAQ: IBKC shares will receive a value of approximately $74.77 per share.
However, given that at least one analyst has set the high target price at $92.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: IBKC stockholders. More specifically, the investigation concerns whether the IBERIABANK Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in IBERIABANK Corporation (NASDAQ: IBKC) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.