DALLAS, Dec. 21, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of the remaining shares of Peoples Bancorporation, Inc. ("Peoples Bancorporation" or "PBCE") (OTC BB: PBCE) to SCBT Financial Corporation for PBCE shareholders. Under the proposed acquisition, PBCE's shareholders will receive 0.1413 shares of SCBT for every share of PBCE stock held. Notably, SCBT stock has declined approximately 25% from a high in April to the present date.
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If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [email protected], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [email protected]. There is no cost or fee to you.
Under the terms of the definitive acquisition agreement, this transaction has an approximate value of $28.4 million.
The investigation centers on whether PBCE's board of directors adequately shopped the Company to obtain the best price possible for PBCE shareholders before accepting the terms of sale with SCBT.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP
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