According to the Complaint, IBERIABANK Corporation is a financial holding company with locations in Louisiana,
Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services.
This action stems from a proposed transaction announced on November 4, 2019, pursuant to which IBERIABANK Corporation will be acquired by First Horizon National Corporation.
On November 3, 2019, IBERIABANK’s Board of Directors caused the Company to enter into an agreement and plan of merger with First Horizon. Pursuant to the terms of the Merger Agreement, IBERIABANK’s stockholders will receive 4.584 shares of First Horizon common stock for each share of IBERIABANK common stock they own.
On December 31, 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.