NEW YORK, April 24, 2017 /PRNewswire/ -- Wolf Popper LLP is investigating claims on behalf of investors in HCSB Financial Corporation (OTCQB: HCFB), concerning the proposed acquisition of HCSB Financial by United Community Banks, Inc. According to Carl Stine, who is a partner at Wolf Popper LLP, "Based on HCSB Financial's stock price in the months prior to the announcement of the deal, the proposed transaction appears to be unfair to HCSB's public shareholders."
Under the terms of the proposed acquisition, HCSB Financial's shareholders will receive 0.0050 shares of United Community common stock for each share of HCSB Financial. The proposed offer has a preliminary equity value of $66 million, or $0.13 per share. However, the proposed offer price is nearly 62% below HCSB Financial's closing price on April 13, 2017, and below HCSB Financial's 52-week high of $0.50 per share.
Wolf Popper is investigating claims on behalf of investors in HCSB Financial concerning the transaction. HCSB Financial's shareholders seeking more information about the transaction or Wolf Popper's investigation can contact Mr. Stine at (212) 759-4600 or [email protected].
Wolf Popper has extensive experience representing investors in mergers and acquisition lawsuits and has successfully ensured that investors receive the maximum compensation. Twelve Wolf Popper attorneys were named Rising Stars or Super Lawyers in the 2016 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area. View Wolf Popper attorney biographies at www.wolfpopper.com.
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SOURCE Wolf Popper LLP