Company Website:
http://www.powerstaylor.com
DALLAS -- (Business Wire)
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of First Security Group, Inc. (“First Security”) (NASDAQ:
FSGI) concerning the acquisition by Atlantic Capital Bancshares, Inc.
Under the terms of the agreement, valued at approximately $160 million,
First Security shareholders may elect to receive cash equal to $2.35 per
share, stock based on a fixed exchange rate of 0.1888 shares of Atlantic
Capital stock, or any combination thereof for each First Security stock
held. The consideration is significantly lower than at least one
analyst’s estimated value of $2.50.
If you are an affected investor, and you want to learn more about the
investigation or if you have information that you believe would be
helpful to our investigation of the fairness of the proposed
transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via
email at WBriscoe@TheBriscoeLawFirm.com,
Patrick Powers at Powers Taylor LLP via e-mail at shareholder@powerstaylor.com,
or by calling toll free at (877) 728-9607. There is no cost or fee to
you.
The investigation centers on whether First Security’s Board of Directors
is acting in the shareholders’ best interests, whether the board
considered alternatives to the acquisition, and whether the board has
employed an adequate process to review and act on the proposed
transaction. Notably, at least one analyst with Raymond James set a
target price for First Security at $2.50 per share.
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.
Contacts:
The Briscoe Law Firm, PLLC
Willie Briscoe
WBriscoe@TheBriscoeLawFirm.com
or
Powers
Taylor LLP
Patrick Powers, 877-728-9607
shareholder@powerstaylor.com
Source: Powers Taylor LLP
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