NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased United Bankshares, Inc. (“United” or the “Company”) (NASDAQ: UBSI) stock prior to November 18, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of United with Carolina Financial Corporation (“Carolina Financial”) (NASDAQ: CARO). Under the terms of the transaction, United will acquire 100% of the outstanding shares of Carolina Financial at an exchange ratio of 1.13 of United’s shares for each share of Carolina Financial. To learn more about the action and your rights, go to:
https://www.zlk.com/mna/united-bankshares-inc
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
The United merger investigation concerns whether the Board of United breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether the deal with Carolina Financial undervalues United shares, thus unlawfully harming United shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com