NEW YORK, July 23, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Atlantic Capital Bancshares, Inc. (“Atlantic Capital” or the “Company”) (NASDAQ: ACBI) in connection with the Company’s proposed acquisition by SouthState Corporation (“SouthState”) (NASDAQ: SSB). Under the terms of the merger agreement, the Company’s shareholders will receive 0.36 shares of SouthState common stock for each Atlantic Capital share that they own, representing implied per-share merger consideration of approximately $26.43 based upon SouthState’s July 22, 2021 closing price of $73.42. The transaction is valued at approximately $542 million.
If you own Atlantic Capital shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether: (i) Atlantic Capital’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Atlantic Capital’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a price target for the Company of $32.00 per share, $5.57 above the per-share merger consideration.
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 [email protected]
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SOURCE WeissLaw LLP