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SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Spirit of Texas Bancshares, Inc. (Nasdaq - STXB)

Monday, 22 November 2021 05:15 PM

Brodsky & Smith, LLC

BALA CYNWYD, PA / ACCESSWIRE / November 22, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Spirit of Texas Bancshares, Inc. ("STXB" or the "Company") (Nasdaq:STXB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Simmons First National Corporation (Nasdaq:SFNC) ("Simmons"). Under the terms of the merger agreement, STXB common stockholders will receive, in the aggregate, 18,325,000 shares of Simmons common stock, while holders of STXB stock options and warrants will receive cash payments. The proposed transaction has a total value of approximately $581 million.

The investigation concerns whether the STXB Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Simmons is paying too little for the Company.

If you own shares of STXB 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 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, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/spirit-texas-bancshares-inc-nasdaq-stxb/, or call toll free 855-576-4847.

Brodsky & Smith 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

Topic:
Mergers and Acquisitions
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