FIRST SECURITY GROUP, INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe & Powers Taylor LLP Believe the Acquisition ...
March 27 2015 - 12:51PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of First Security Group, Inc. (“First Security”) (NASDAQ:
FSGI) concerning the acquisition by Atlantic Capital Bancshares,
Inc. Under the terms of the agreement, valued at approximately $160
million, First Security shareholders may elect to receive cash
equal to $2.35 per share, stock based on a fixed exchange rate of
0.1888 shares of Atlantic Capital stock, or any combination thereof
for each First Security stock held. The consideration is
significantly lower than at least one analyst’s estimated value of
$2.50.
If you are an affected investor, and you want to learn more
about the investigation or if you have information that you believe
would be helpful to our investigation of the fairness of the
proposed transaction, contact Willie Briscoe at The Briscoe Law
Firm, PLLC via email at WBriscoe@TheBriscoeLawFirm.com, Patrick
Powers at Powers Taylor LLP via e-mail at
shareholder@powerstaylor.com, or by calling toll free at (877)
728-9607. There is no cost or fee to you.
The investigation centers on whether First Security’s Board of
Directors is acting in the shareholders’ best interests, whether
the board considered alternatives to the acquisition, and whether
the board has employed an adequate process to review and act on the
proposed transaction. Notably, at least one analyst with Raymond
James set a target price for First Security at $2.50 per share.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie
BriscoeWBriscoe@TheBriscoeLawFirm.comorPowers Taylor LLPPatrick
Powers, 877-728-9607shareholder@powerstaylor.com
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