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SUNCREST BANK MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF SUNCREST BANK IS FAIR TO SHAREHOLDERS – SBKK
July 29, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Suncrest Bank (OTCQX: SBKK) to CVB Financial Corp. is fair to Suncrest shareholders. Pursuant to the agreement, each share of Suncrest common stock will receive 0.6970 shares of CVB Financial common stock and $2.69 per share in cash. Suncrest shareholders are expected to own approximately 6% of CVB Financial’s outstanding common stock following the merger.
The investigation concerns whether Suncrest 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 Suncrest shareholders; (2) determine whether CVB Financial is underpaying for Suncrest; and (3) disclose all material information necessary for Suncrest shareholders to adequately assess and value the merger consideration. On behalf of Suncrest 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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