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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of CenterState Bank Corporation (“CenterState” or the “Company”) (NASDAQ: CSFL) to South State Corporation (“South State”) (NASDAQ: SSB). Under the terms of the merger, CenterState shareholders will receive 0.3001 shares of South State for each share owned. CenterState shareholders will own about 53% of the new entity, while South State shareholders will own 47%.
The CenterState merger investigation concerns whether the Board of CenterState breached their fiduciary duties to stockholders by agreeing to enter into this transaction and whether the merger undervalues CenterState relative to South State, thereby harming CenterState shareholders.
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