NEW YORK, Jan. 27, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of VantageSouth Bancshares, Inc. ("VantageSouth" or the "Company") (NYSE MKT: VSB) for potential breaches of fiduciary duties in connection with their conduct related to the merger of the Company with Yadkin Financial Corporation in a stock deal valued at approximately $299 million. Under the terms of the proposed transaction, VantageSouth's stockholders will receive 0.3125 shares of Yadkin common stock for each share of VantageSouth common stock they own. The value of the merger consideration will change based on fluctuations in Yadkin's stock price.
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The investigation focuses on whether VantageSouth's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of VantageSouth's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in VantageSouth Bancshares and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/VSB or contact Juan E. Monteverde, Esq. either via e-mail at [email protected] or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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