NEW YORK, July 23, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed merger SouthState Corporation (NASDAQ: SSB).
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On July 23, 2021, Atlantic Capital announced that it had entered into an agreement to merge with SouthState in a deal valued at $542 million. Pursuant to the merger agreement, Atlantic Capital stockholders will receive 0.36 shares of SouthState common stock for each share of Atlantic Capital common stock owned. The deal is scheduled to close in the first quarter of 2022.
Bragar Eagel & Squire is concerned that Atlantic Capital’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Atlantic Capital’s stockholders.
If you own shares of Atlantic Capital and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.