SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of VantageSouth Bancshares, Inc. (NYSE: VSB) breached their fiduciary duties in connection with the planned merger of the Company with Yadkin Financial Corporation (NASDAQ: YDKN). VantageSouth Bancshares, Inc. provides commercial banking solutions for individuals, businesses, business owners, and professionals in North Carolina.
On January 27, 2014, VantageSouth and Yadkin announced that they had entered into a definitive agreement. Under terms of the transaction, VantageSouth’s shareholders will receive 0.3125 shares of Yadkin common stock for each share of VantageSouth common stock, or $299 million, based on the closing price of Yadkin Financial Corporation common stock on January 24, 2014.
The investigation concerns whether VantageSouth’s board members failed to satisfy their duties to the Company’s 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 are a VantageSouth shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.