First Choice Bancorp
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FIRST CHOICE MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF FIRST CHOICE BANCORP IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – FCBP
April 27, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of First Choice Bancorp (NASDAQ: FCBP) to Enterprise Financial Services Corp is fair to First Choice shareholders. Under the terms of the agreement, each holder of First Choice common stock will receive 0.6603 shares of Enterprise Financial common stock for each First Choice common share held and cash in lieu of fractional shares. Upon closing, First Choice shareholders are expected to own approximately 20% of the combined company.
The investigation concerns whether First Choice and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for First Choice shareholders; (2) determine whether Enterprise Financial is underpaying for First Choice; and (3) disclose all material information necessary for First Choice shareholders to adequately assess and value the merger consideration. On behalf of First Choice shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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