NEW YORK, Nov. 19, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Spirit of Texas Bancshares, Inc. ("Spirit" or the "Company") (NASDAQ: STXB) in connection with the proposed acquisition of the Company and its wholly owned subsidiary, Spirit of Texas Bank SSB, by Simmons First National Corporation ("Simmons") (NASDAQ: SFNC). Under the terms of the merger agreement, holders of Spirit common stock will receive, in the aggregate, 18,325,000 shares of Simmons common stock, while holders of Spirit stock options and warrants will receive cash payments. The proposed transaction has a total value of approximately $581 million.
If you own STXB shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
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Joshua Rubin, Esq.
305 Broadway, 7th Floor
New York, NY 10007
WeissLaw is investigating whether (i) Spirit's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Spirit's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
SOURCE WeissLaw LLP