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Case Status:    DISMISSED    
On or around 07/31/2019 (Notice of voluntarily dismissal)

Filing Date: June 20, 2019

According to the Complaint, Entegra Financial Corp. is the holding company of Entegra Bank. Entegra Bank operates a total of eighteen branches located throughout the Western North Carolina counties of Cherokee, Haywood, Henderson, Jackson, Macon, Polk, and Transylvania; the Upstate South Carolina counties of Anderson, Greenville, and Spartanburg; and the North Georgia counties of Pickens and Hall.

This action stems from a proposed transaction announced on April 24, 2019, pursuant to which of Entegra Financial Corp. will be acquired by First Citizens BancShares, Inc.

On April 23, 2019, Entegra’s Board of Directors caused the Company to enter into an agreement and plan of merger with First Citizens. Pursuant to the terms of the Merger Agreement, shareholders of Entegra will receive $30.18 in cash for each share of Entegra they own.

On May 24, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission 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.

This case was voluntarily dismissed on July 31, 2019.


Sector: Financial
Industry: Regional Banks
Headquarters: United States


Ticker Symbol: ENFC
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: D. Delaware
DOCKET #: 19-CV-01152
JUDGE: Hon. Colm F. Connolly
DATE FILED: 06/20/2019
CLASS PERIOD END: 06/20/2019
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available