Whitney Holding Corporation ("Whitney") is a bank holding company with operations throughout the southeastern United States.

According to the Complaint filed February 7, 2011, Plaintiff alleges that Defendants have provided materially incomplete information to Whitney shareholders, inhibiting their ability to make an informed decision concerning the Sale Agreement. Plaintiff also alleges that in agreeing to the Sale Agreement, Whitney Chairman of the Board and Chief Executive Officer sought to protect and advance his own interests at the expense of Whitney's public shareholders. Plaintiff also alleges that through the process by which they caused Whitney to enter into the Sale Agreement, Whitney directors breached and are continuing to breach their fiduciary duties of care, good faith, loyalty and candor.

On March 4, 2011, the Defendants filed a motion to dismiss the Class Action Complaint.

On April 20, 2011, the Court issued an order consolidating the action with civil docket number 11-CV-00794.

On May 5, 2011, the Court issued an order dismiss the action based on the parties voluntary agreement pending an anticipated settlement in a related state court proceeding.

On May 19, 2011, the parties field a Notice of Voluntary Dismissal based on a settlement in a related proceeding in state court.