HomeTrust Bancshares, Inc. and Jefferson Bancshares, Inc. Announce Dismissal of Merger-Related Litigation
May 22 2014 - 4:45PM
Business Wire
HomeTrust Bancshares, Inc. (Nasdaq: HTBI) and Jefferson
Bancshares, Inc. (Nasdaq: JFBI) announced jointly today that the
plaintiffs named in the previously filed complaint against
Jefferson Bancshares, its Board of Directors and HomeTrust
Bancshares in the Chancery Court for Hamblen County, Tennessee have
filed a notice of voluntary dismissal that has resulted in the
dismissal of all claims against the defendants without prejudice.
The dismissal became effective upon the issuance of a related order
of voluntary dismissal by the Chancery Court on May 22, 2014. The
dismissal was not undertaken pursuant to any negotiated settlement
with the plaintiffs, and the defendants have not paid or agreed to
pay any amount to the plaintiffs or their counsel in connection
with the dismissal.
"We are pleased that the plaintiffs’ complaint has been
dismissed and maintain our belief that the allegations in the
complaint were without merit and unfairly questioned the
motivations and diligence of the parties to the pending
transaction,” stated Anderson L. Smith, the President and Chief
Executive Officer of Jefferson Bancshares. “We continue to remain
focused on completing the steps necessary to consummate the merger
and to build our combined franchise.”
Additional Information for Shareholders of Jefferson
Bancshares
In connection with the proposed merger, HomeTrust Bancshares has
filed with the Securities and Exchange Commission (the “SEC”) a
Registration Statement on Form S-4 that includes a proxy statement
of Jefferson Bancshares and a prospectus of HomeTrust Bancshares,
as well as other relevant documents concerning the proposed
transaction. Jefferson Bancshares mailed the proxy
statement/prospectus to its shareholders subsequent to the
Registration Statement on Form S-4 being declared effective by the
SEC. SHAREHOLDERS OF JEFFERSON BANCSHARES ARE URGED TO READ
CAREFULLY THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS
REGARDING THE PROPOSED MERGER IN THEIR ENTIRETY AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR
SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT
INFORMATION. Investors and security holders may obtain a free copy
of the proxy statement/prospectus and other filings containing
information about HomeTrust Bancshares and Jefferson Bancshares at
the SEC’s website at www.sec.gov.
Jefferson Bancshares and certain of its directors and executive
officers, under the SEC’s rules, may be deemed to be participants
in the solicitation of proxies of Jefferson Bancshares shareholders
in connection with the proposed merger. Information regarding the
directors and executive officers of Jefferson Bancshares and their
ownership of Jefferson Bancshares common stock is set forth in the
proxy statement/prospectus. Additional information regarding the
interests of those participants and other persons who may be deemed
participants in the transaction may be obtained by reading the
proxy statement/prospectus. Free copies of this document may be
obtained as described in the preceding paragraph.
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such jurisdiction.
About HomeTrust Bancshares, Inc.
HomeTrust Bancshares is the holding company for HomeTrust Bank,
including its banking divisions – HomeTrust Bank, Tryon Federal
Bank, Shelby Savings Bank, Home Savings Bank, Industrial Federal
Bank, Cherryville Federal Bank and Rutherford County Bank. With
$1.6 billion in assets as of March 31, 2014, the community-oriented
financial institution offers traditional financial services within
its local communities through its 21 full service offices in
Western North Carolina, including the Asheville metropolitan area,
the “Piedmont” region of North Carolina, and Greenville, South
Carolina.
About Jefferson Bancshares, Inc.
Jefferson Bancshares, Inc. is the holding company for Jefferson
Federal Bank, a Tennessee-chartered savings bank headquartered in
Morristown, Tennessee. Jefferson Federal Bank is a community
oriented financial institution offering traditional financial
services with offices in Hamblen, Knox, Washington and Sullivan
Counties, Tennessee. Jefferson Bancshares stock is listed on the
NASDAQ Global Market under the symbol “JFBI.” More information
about Jefferson Bancshares and Jefferson Federal Bank can be found
at its website: www.jeffersonfederal.com.
Forward-Looking Statements
This news release contains certain forward-looking statements
about the proposed merger of Jefferson Bancshares and HomeTrust
Bancshares. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current
facts. They often include words like “believe,” “expect,”
“anticipate,” “estimate,” and “intend” or future or conditional
verbs such as “will,” “would,” “should,” “could” or “may.” Certain
factors that could cause actual results to differ materially from
expected results include delays in completing the merger and other
risks and uncertainties disclosed from time to time in documents
that Jefferson Bancshares and HomeTrust Bancshares file with the
Securities and Exchange Commission. For any forward-looking
statements made in this press release or in any documents,
HomeTrust Bancshares and Jefferson Bancshares claim the protection
of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995.
HomeTrust Bancshares, Inc.Dana L. StonestreetPresident and Chief
Executive Officer828-259-3939orJefferson Bancshares, Inc.Anderson
L. SmithPresident and Chief Executive Officer423-586-8421
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