The Ademi Firm is investigating Southern States (Nasdaq: SSBK) for possible breaches of fiduciary duty and other violations of law in its transaction with FB Financial.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, Southern States shareholders will receive only 0.800 shares of FB Financial common stock for each share of Southern States stock. Based on FB Financial’s closing stock price of $47.05 per share as of March 28, 2025, the implied transaction value is approximately $37.64 per Southern States share, or $381 million in the aggregate.
Southern States insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Southern States by imposing a significant penalty if Southern States accepts a competing bid. We are investigating the conduct of the Southern States board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contacts
Ademi & Fruchter LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001