NEW YORK, July 23, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized law firm, has launched an investigation into whether officers or directors of Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) violated their fiduciary duties or violated federal securities laws in connection with the proposed merger of the company SouthState Corporation (NASDAQ: SSB).
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On July 23, 2021, Atlantic Capital announced that it had entered into a merger agreement with SouthState in a deal valued at $ 542 million. Pursuant to the merger agreement, shareholders of Atlantic Capital will receive 0.36 common shares of SouthState for each common share of Atlantic Capital held. The deal is expected to be finalized in the first quarter of 2022.
Bragar Eagel & Squire is concerned that Atlantic Capital’s board oversaw an unfair process and ultimately agreed to an inadequate merger deal. As a result, the company is investigating all relevant aspects of the transaction and is committed to achieving the best possible outcome for Atlantic Capital shareholders.
If you own shares of Atlantic Capital and are concerned about the proposed merger, or would like to learn more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations @ bespc .com or by phone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
Bragar Eagel & Squire, PC
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.