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First Financial Holdings Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg LLP

2013-02-20 17:21 ET - News Release

LOS ANGELES -- (Business Wire)

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of First Financial Holdings Inc. (“First Financial” or the “Company”) (NASDAQ: FFCH) related to the proposed acquisition of the Company by SCBT Financial Corporation. Pursuant to the terms of the acquisition, First Financial shareholders will receive 0.4237 shares of SCBT common stock per share of First Financial common stock held. The transaction is valued at approximately $302.4 million or $18.30 per share, based on Tuesday’s closing price.

This investigation concerns whether the Board of Directors of First Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $8.59 on June 5, 2012 to $16.64 on February 12, 2013.

If you are a shareholder of First Financial, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
310-201-9150 or 888-773-9224

Source: Glancy Binkow & Goldberg LLP

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