NEW YORK, Aug. 6, 2017 /PRNewswire/ -- WeissLaw LLP
announced that a class action was commenced in the United States
District Court for the Western District of North Carolina on behalf of shareholders of
Capital Bank Financial Corp. ("Capital Bank") (NASDAQ: CBF) seeking
to pursue remedies under the Securities and Exchange Act of 1934
(the "Exchange Act") in connection with the proposed acquisition of
Capital Bank by First Horizon National Corporation ("First
Horizon") (NYSE: FHN).
On May 4, 2017, Capital Bank and
First Horizon announced that they had entered into a definitive
agreement pursuant to which First Horizon will acquire all
outstanding shares of Capital Bank in a cash-and-stock transaction
valued at approximately $2.2 billion
("Proposed Transaction"). Under the terms of the agreement, Capital
Bank shareholders will receive 1.750 shares of First Horizon and
$7.90 in cash for each Capital Bank
share held.
The complaint seeks injunctive relief on behalf of the named
plaintiff and all Capital Bank shareholders. The plaintiff is
represented by WeissLaw, which has expertise in prosecuting
investor class actions and extensive experience in actions
involving financial fraud. The complaint further alleges that
in an attempt to secure shareholder approval for the merger, the
defendants filed a materially false and/or misleading Registration
Statement with the SEC in violation of the Exchange Act. The
omitted and/or misrepresented information is believed to be
material to Capital Bank shareholders' ability to make an informed
decision whether to approve the Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the
Court no later than sixty (60) days from today. If you wish to
discuss this action or have any questions concerning this notice or
your rights or interests, please contact plaintiff's counsel,
Joshua M. Rubin of WeissLaw
at 888.593.4771, or by e-mail at
stockinfo@weisslawllp.com. Any member of the putative
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing please email us at
stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP