WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of VantageSouth Bancshares, Inc. (NYSE MKT: VSB)?
- Did you purchase any of your shares prior to January 27, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of VantageSouth Bancshares, Inc. (“VantageSouth” or the “Company”) (NYSE MKT: VSB) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Yadkin Financial Corporation (“Yadkin”) (NASDAQ GS: YDKN) in a transaction valued at approximately $299 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/vantagesouth-bancshares-inc-vsb.
Under the terms of the agreement, public shareholders of VantageSouth will receive 0.3125 shares of Yadkin common stock for each share of VantageSouth they own. Based on Yadkin’s closing stock price on January 24, 2014, VantageSouth shareholders would have received consideration valued at approximately $5.41 per share.
The investigation concerns whether VantageSouth’s board of directors failed to adequately shop the Company and obtain the best possible value for VantageSouth’s shareholders before entering into an agreement with Yadkin. According to Yahoo! Finance, at least one analyst has issued a price target for VantageSouth stock at $6.50 per share.
If you own the common stock of VantageSouth and purchased your shares before January 27, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/vantagesouth-bancshares-inc-vsb.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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