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Case Status:   
On or around 03/16/2018 (Remanded)

Filing Date: October 13, 2017

According to the Complaint, this action stems from a proposed transaction announced on August 22, 2017 (the "Proposed Transaction"), pursuant to which Bear State Financial, Inc. ("Bear State Financial" or the "Company") and Bear State Bank ("Bear State Bank," and together with Bear State Financial, "Bear State") will be acquired by Arvest Bank ("Arvest Bank") and Arvest Acquisition Sub, Inc. ("Merger Sub," and together with Arvest Bank, "Arvest").

On August 22, 2017, the Company's Board of Directors (the "Board" or "Individual Defendants") caused Bear State to enter into an agreement and plan of reorganization (the "Merger Agreement") with Arvest. Pursuant to the terms of the Merger Agreement, if Bear State Financial' s stockholders approve the Proposed Transaction at the stockholder vote scheduled for November 15, 2017, they will receive $10.28 in cash for each share of Bear State Financial common stock they own. If the Proposed Transaction is approved, Merger Sub will merge with and into Bear State Financial, with Bear State Financial surviving the merger as a wholly-owned subsidiary of Arvest Bank. Following the merger, Bear State Financial will either dissolve and liquidate or merge with and into Arvest Bank, and Bear State Bank will become a wholly-owned subsidiary of Arvest Bank and subsequently merge with and into Arvest Bank, with Arvest Bank as the surviving bank.

On September 25, 2017, defendants filed a Preliminary Proxy Statement (the "Proxy Statement") with the United States Securities and Exchange Commission ("SEC") in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading. Accordingly, plaintiff alleges that defendants violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "1934 Act") in connection with the Proxy Statement.

On November 28, 2017, the first identified case was voluntarily dismissed.  A related case filed under Docket 17-cv-00714 continues.

On March 16, 2018, the Court issued an Order remanding this case to State Court.


Sector: Financial
Industry: S&Ls/Savings Banks
Headquarters: United States


Ticker Symbol: BSF
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: E.D. Arkansas
DOCKET #: 17-CV-00669
JUDGE: Hon. Kristine G. Baker
DATE FILED: 10/13/2017
CLASS PERIOD END: 10/13/2017
  1. Emerson Scott, LLP
    1301 Scott Street, Emerson Scott, LLP, AR 72202
    501.907.2555 501.907.2555 ·
  2. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 ·
  3. RM Law, P.C.
    1055 Westlakes Drive, Suite 3112, RM Law, P.C., PA 19312
    (484) 324-6800 ·
No Document Title Filing Date
COURT: E.D. Arkansas
DOCKET #: 17-CV-00714
JUDGE: Hon. Kristine G. Baker
DATE FILED: 11/01/2017
CLASS PERIOD END: 11/01/2017
  1. Ademi & O'Reilly, LLP
    3620 East Layton Ave., Ademi & O'Reilly, LLP, WI 53110
    866-264-3995 414-482-8001 ·
  2. Bryce Brewer Law Firm, LLC
    800 West 4th Street, Bryce Brewer Law Firm, LLC, AR 72114
    (501) 978-3030 (501) 978-3050 ·
  3. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
No Document Title Filing Date
—Related District Court Filings Data is not available