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Case Status:    DISMISSED    
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.


Sector: Financial
Industry: Regional Banks
Headquarters: United States


Ticker Symbol: BNCN
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: M.D. North Carolina
DOCKET #: 17-CV-00482
DATE FILED: 05/25/2017
CLASS PERIOD END: 05/25/2017
  1. Faruqi & Faruqi LLP (New York)
  2. Monteverde & Associates PC
  3. Ward Black Law
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available