SHAREHOLDER ALERT:  Brodsky & Smith, LLC Announces an Investigation of HCSB Financial Corporation – HCFB

 

BALA CYNWYD, April 24, 2017 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of HCSB Financial Corporation (“HCFB” or “the Company”) (OTCQB- HCFB-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to United Community Bank, Inc. (“United”).

Under the terms of the transaction, HCFB shareholders will receive only 0.0050 of a share of United for each share of HCFB stock they own. The transaction values HCFB at only approximately $0.13 per share. The investigation concerns whether the Board of  HCFB breached their fiduciary duties to shareholders and whether United is underpaying for the Company. The transaction may undervalue the Company and would result in a loss for many long-term HCFB shareholders. For example, shares of HCFB stock traded at $00.50 per share on August 9, 2016.

If you own shares of HCFB stock and wish to discuss the legal ramifications of  the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA  19004, or calling toll  free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.