NEW YORK, Nov. 19, 2019 /PRNewswire/ -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of Carolina Financial Corporation (NASDAQ: CARO) breached their fiduciary duties or violated the federal securities laws in connection with the company's proposed sale to United Bankshares, Inc.
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On November 18, 2019, Carolina Financial announced that it had signed an agreement to be acquired by United Bankshares for a total of $1.1 billion. Per the merger agreement, Carolina Financial stockholders will receive 1.13 shares of United Bankshares common stock for each share of Carolina Financial common stock owned. The deal is scheduled to close by the end of 2019.
Bragar Eagel & Squire is concerned that Carolina Financials' board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Carolina Financial stockholders.
If you own shares of Carolina Financial and are concerned about the proposed merger, or you're interested in learning more about the investigation or your legal rights and remedies, please contact Brandon Walker or Alexandra Raymond by email at firstname.lastname@example.org or telephone at (212) 355-4648, 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 and California. 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.
SOURCE Bragar Eagel & Squire, P.C.
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