BALA CYNWYD, PA / ACCESSWIRE / January 27, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of CenterState Bank Corporation ("CenterState" or the "Company") (NASDAQ GS:CSFL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with proposed acquisition of the Company South State Corporation ("South State") (NASDAQ GS:SSB). Under the terms of the agreement, CenterState shareholders will receive only 0.3001 shares of South State for each share of CenterState stock owned, implying a per share price of $25.66 based on South State's January 24th closing price.
The investigation concerns whether the CenterState Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether South State is underpaying for the Company. For example, the consideration is well below the 52-week high of $26.83 and CenterState stock was trading above the implied deal price as recently as December 2019.
If you own shares of CenterState stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/centerstate-bank-corporation-nasdaqgs-csfl/, or calling toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC