Shareholder Class Action Defense for Green Bankshares

Client Type: Public Company

We represented Green Bankshares and its board of directors in a putative class action alleging the defendants breached their fiduciary duties to the Company by accepting an unfair sale price pursuant to an unfair sales process related to a $217 million merger. The plaintiffs sought to enjoin the merger. The matter was settled on favorable terms and the deal closed. The firm also represented these same defendants in three related class actions pending in other jurisdictions. Betty Smith v. Green Bankshares, Inc. et al., Case No. 11-625-III (Davidson County, Tennessee, Chancery Court)

Green Bankshares, Inc. (formerly NASDAQ: GRNB) is a bank holding company that merged with and into Capital Bank, National Association (Capital Bank, NA), a subsidiary of Capital Bank Financial Corp. (CBF) in September 2011.

We represented Green Bankshares and its board of directors in a putative class action alleging the defendants breached their fiduciary duties to the Company by accepting an unfair sale price pursuant to an unfair sales process related to a $217 million merger. The plaintiffs sought to enjoin the merger. The matter was settled on favorable terms and the deal closed. The firm also represented these same defendants in three related class actions pending in other jurisdictions. Betty Smith v. Green Bankshares, Inc. et al., Case No. 11-625-III (Davidson County, Tennessee, Chancery Court)

Green Bankshares, Inc. (formerly NASDAQ: GRNB) is a bank holding company that merged with and into Capital Bank, National Association (Capital Bank, NA), a subsidiary of Capital Bank Financial Corp. (CBF) in September 2011.