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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger ofUnited Bankshares, Inc. (“United” or the “Company”) (NASDAQ: UBSI) with Carolina Financial Corporation (“Carolina Financial”) (NASDAQ: CARO). Under the terms of the transaction, United will acquire 100% of the outstanding shares of Carolina Financial at an exchange ratio of 1.13 of United’s shares for each share of Carolina Financial.
The United merger investigation concerns whether the Board of United breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether the deal with Carolina Financial undervalues United shares, thus unlawfully harming United shareholders.
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