NEW YORK, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Professional Holding Corp. (NASDAQ: PFHD) (“Professional”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Seacoast Banking Corporation of Florida (NASDAQ: SBCF) (“Seacoast”).
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On August 8, 2022, Professional announced that it had entered into an agreement to be acquired by Seacoast in an all-stock deal with an enterprise value of $488.6 million. Pursuant to the merger agreement, Professional shareholders are to receive 0.8909 shares of Seacoast common stock for each share of Professional common stock. The deal is scheduled to close in the first quarter of 2023.
Bragar Eagel & Squire is concerned that Professional’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Professional’s stockholders.
If you own shares of Professional and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato by email at mergers@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
mergers@bespc.com
www.bespc.com
