According to the Complaint, Choice Bancorp, Inc. is a $441 million bank holding company. The Company’s wholly-owned bank subsidiary, Choice Bank, is a full-service community-oriented commercial bank that was
chartered in 2006 and has two branches in Oshkosh, Wisconsin.
This action stems from a proposed transaction announced on June 27, 2019, pursuant to which Choice Bancorp, Inc. will be acquired Nicolet Bankshares, Inc.
On June 26, 2019, Choice’s Board of Directors caused the Company to enter into an agreement and plan of merger with Nicolet. Pursuant to the terms of the Merger Agreement, Choice’s stockholders will receive 0.50 shares of Nicolet common stock for each share of Choice 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, which scheduled a stockholder vote on the Proposed Transaction for October 22, 2019. 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 September 13, 2019.