NEW YORK, July 17, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Carolina Trust BancShares, Inc. ("CART" or the "Company") (CART) in connection with the proposed acquisition of the Company by Carolina Financial Corporation ("CARO") (CARO). Under the terms of the agreement, CART shareholders will be entitled receive 0.30 shares of CARO, or $10.57 in cash, for each CART share they own.
If you own CART shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
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New York, NY 10036
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WeissLaw is investigating whether CART's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the deal is a strategic transaction from which CARO hopes to leverage CART's strong presence in the Carolinas to expand its footprint in the region. According to CARO's CEO, "[t]his transaction allows for [CARO] to deepen its market presence in North Carolina. [CART] represents the best opportunity for [CARO] to expand our footprint in these markets and the merger will allow us to execute on many of our publicly stated goals."
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances CART shareholder value. Specifically, WeissLaw is concerned whether CART's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
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 (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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