DALLAS--(BUSINESS WIRE)--Kendall Law Group, led by former federal Judge Joe Kendall, is investigating Southcoast Financial Corporation (NASDAQ: SOCB) and its Board of Directors on behalf of shareholders in connection with the proposed sale to BNC Bancorp. Pursuant to the terms of the agreement, Southcoast shareholders will only receive $13.35 in cash for each share of Southcoast owned. At least one analyst has valued Southcoast at $18.18/share, far greater than the sale price to BNC.
The national securities firm’s investigation seeks to determine whether Southcoast and its Board breached their fiduciary duties by failing to fulfill its fiduciary duties, failing to maximize the value of the Company, failing to disclose all material benefits and costs, and failing to obtain the best possible consideration for Southcoast shareholders.
If you currently own shares of Southcoast and want to know more about your rights, you are encouraged to contact Jamie McKey at the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org to learn more about your rights as a shareholder. There is no cost or obligation to you. Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in nationwide complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.