On or around 09/11/2017 (Court's order of dismissal)
Filing Date: May 25, 2017
According to a law firm press release, on January 22, 2017, the Board of Directors (“the Board”) of BNC caused the Company to enter into an agreement and plan of merger (“Merger Agreement”), pursuant to which the Company’s shareholders stand to receive 0.5235 shares of Pinnacle common stock for each share of BNC stock they own (the “Merger Consideration”). According to the Complaint, on May 3, 2017, in order to convince BNC shareholders to vote in favor of the Proposed Merger, Defendants authorized the filing of a materially incomplete and misleading Joint Definitive Proxy Statement (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act. The BNC shareholder meeting on the Proposed Merger is scheduled for June 12, 2017 (the “Vote”).
This case was voluntarily dismissed as moot on June 20, 2017.
Company & Securities Information
Defendant: BNC Bancorp
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: BNCN
Company Market: NASDAQ
Market Status: Public (Listed)
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