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HALPER SADEH LLP IS INVESTIGATING WHETHER THE SALE OF GRANDSOUTH BANCORPORATION IS FAIR TO SHAREHOLDERS
June 22, 2022.
New York, New York—Halper Sadeh LLP, an investor rights law firm, is investigating whether the sale of GrandSouth Bancorporation (OTC: GRRB) to First Bancorp for 0.910 shares of First Bancorp common stock for each share of GrandSouth common and preferred stock is fair to GrandSouth shareholders.
The investigation concerns whether GrandSouth 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 GrandSouth shareholders; (2) determine whether First Bancorp is underpaying for GrandSouth; and (3) disclose all material information necessary for GrandSouth shareholders to adequately assess and value the merger consideration. On behalf of GrandSouth 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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