Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Capital Bank Financial Corp. (“Capital Bank”) (NasdaqGS: CBF) concerning the sale to First Horizon National Corp. (NYSE: FHN). Under the terms of the agreement, Capital Bank shareholders will receive cash or stock with a value equivalent to 1.750 First Horizon shares and $7.90 in cash for each Capital Bank share held. The consideration is valued at approximately $40.83 per share, which is no premium over the 52-week high and lower than at least one analyst’s estimated value of $50.00 per share.
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at shareholders@thebriscoelawfirm.com or by calling (888) 809-2750. There is no cost or fee to you.
The investigation centers on whether Capital Bank’s Board of Directors is acting in the shareholders’ best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of the stock could be as high as $50.00.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
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