STEVENSON, Md.--(BUSINESS WIRE)--
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Charter Financial Corporation (NASDAQ: CHFN) (“Charter” or the “Company”) relating to the proposed buyout of Charter by CenterState Bank Corporation in a transaction valued at approximately $360.1 million.
Under the terms of the agreement, Charter shareholders are anticipated to receive 0.738 of a share of CenterState common stock and $2.30 in cash consideration for each outstanding share of Charter common stock held. Based on CenterState’s stock price of $27.72 as of April 24, 2018, this equates to a per share value of $22.76.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock.
If you currently own common stock of Charter and believe that the proposed buyout price is too low, and you would like to learn more about the investigation being conducted, without cost or obligation to you, please contact Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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