According to the Complaint, LegacyTexas Financial Group, Inc. is a bank holding company that operates a commercially oriented community bank based in Plano, Texas.

This action stems from a proposed transaction announced on June 17, 2019, pursuant to which LegacyTexas will be acquired by Prosperity Bancshares, Inc.

On June 16, 2019, LegacyTexas’s Board of Directors caused the Company to enter into an agreement and plan of merger with Prosperity. Pursuant to the terms of the Merger Agreement, LegacyTexas stockholders will receive 0.5280 shares of Prosperity common stock and $6.28 in cash for each share of LegacyTexas common stock they own.

On August 23, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

This case was voluntarily dismissed on November 6, 2019.