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") (NASDAQ: CART) in
connection with the proposed acquisition of the Company by Carolina
Financial Corporation ("CARO") (NASDAQ: 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.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our
website
http://www.weisslawllp.com/carolina-trust-bancshares-inc/
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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 stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP