MILWAUKEE, Aug. 30, 2023 /PRNewswire/ -- Ademi LLP is investigating Coastal (OTC Pink: CABT) for possible breaches of fiduciary duty and other violations of law in its transaction with PB Financial.
Click here to learn how to join the action https://www.ademilaw.com/case/coastal-bank-trust or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Coastal stockholders are expected to receive only $10.00 in cash or 0.2222 shares of PB Financial common stock for each share of Coastal common stock that is exchanged in the merger, subject to a proration if either election is oversubscribed. The aggregate combined stock and cash merger consideration Coastal shareholders will receive in the merger is valued at approximately $25.8 million. The transaction agreement unreasonably limits competing transactions for Coastal by imposing a significant penalty if Coastal accepts a competing bid. Coastal insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Coastal's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Coastal common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/coastal-bank-trust.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
SOURCE Ademi LLP
![](https://rt.prnewswire.com/rt.gif?NewsItemId=CG97031&Transmission_Id=202308301546PR_NEWS_USPR_____CG97031&DateId=20230830)
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
![icon3](/content/dam/newsfeatured/icon3.png)
Newsrooms &
Influencers
![icon1](/content/dam/newsfeatured/icon1.png)
Digital Media
Outlets
![icon2](/content/dam/newsfeatured/icon2.png)
Journalists
Opted In
Share this article