LegacyTexas Financial Group, Inc. Securities Litigation
On or around 09/04/2019 (Ongoing date of last review)
Filing Date: September 04, 2019
According to the Complaint, LegacyTexas Financial Group, Inc. is a bank holding company that operates the Bank. The Bank is 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 Financial Group, Inc. 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.
Company & Securities Information
Defendant: LegacyTexas Financial Group, Inc.
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: LTXB
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.
First Identified Complaint
Richard Tijerina, et al. v. LegacyTexas Financial Group, Inc., et al.