Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 09/29/2020 (Date of last review)

Filing Date: September 28, 2020

According to the Complaint, Seacoast Commerce Banc Holdings is a bank holding company with one wholly-owned banking subsidiary, Seacoast Bank. Seacoast Bank has five full-service banking branches in California and Nevada, and loan and deposit production offices throughout Arizona, California, Colorado, Illinois, Indiana, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas, Utah, and Washington.

This action stems from a proposed transaction announced on August 20, 2020, pursuant to which Seacoast Commerce Banc Holdings will be acquired by Enterprise Financial Services Corp.

On August 20, 2020, Seacoast’s Board of Directors caused the Company to enter into an agreement and plan of merger with Enterprise, Enterprise Bank & Trust (“Enterprise Bank”), and Seacoast Commerce Bank (“Seacoast Bank”). Pursuant to the terms of the Merger Agreement, Seacoast’s stockholders will receive 0.5061 shares of Enterprise common stock for each share of Seacoast common stock they own.

On September 11, 2020, 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 INFORMATION:

Sector: Financial
Industry: Regional Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SCBH
Company Market: OTC-BB
Market Status: N/A

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 #: 20-CV-01300
JUDGE: Hon. Maryellen Noreika
DATE FILED: 09/28/2020
CLASS PERIOD START: 08/20/2020
CLASS PERIOD END: 09/28/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  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