MILWAUKEE, July 28, 2021 /PRNewswire/ — Ademi LLP is investigating Suncrest Bank (OTCQX: SBKK) for possible breaches of fiduciary duty and other violations of law in its transaction with CVB.
Click here to learn how to join the action: https://www.ademilaw.com/case/suncrest-bank or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Suncrest’s financial outlook is excellent and yet Suncrest shareholders will receive only $16.18 per, based on CVB’s closing stock price of $19.36 on July 26, 2021. The merger agreement unreasonably limits competing bids for Suncrest by prohibiting solicitation of further bids, and imposing a termination penalty if Suncrest accepts a superior bid. Suncrest insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Suncrest’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Suncrest.
If you own Suncrest common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/suncrest-bank.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP