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NASDAQ: NCOM Investor Alert: Investigation of Takeover of National Commerce Corporation

Via: ReleaseWire

Updated 12:15 PM CST, Mon, December 03,2018

An investigation on behalf of investors of National Commerce Corporation (NASDAQ: NCOM) in connection with the proposed takeover was announced.

San Diego, CA -- (SBWIRE) -- 12/03/2018 -- An investigation was announced concerning the takeover of National Commerce Corporation.

Investors who purchased shares of National Commerce Corporation (NASDAQ: NCOM) and currently hold any of those NASDAQ: NCOM shares have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain directors of National Commerce Corporation breached their fiduciary duties owed to NASDAQ: NCOM investors in connection with the proposed acquisition.

Birmingham, AL based National Commerce Corporation operates as the bank holding company for National Bank of Commerce that provides various financial services to businesses, business owners, and professionals.

On November 26, 2018, CenterState Bank Corporation (Nasdaq-GS: CSFL) and National Commerce Corporation (Nasdaq: NCOM), jointly announced the signing of a definitive agreement pursuant to which National Commerce will merge with and into CenterState in an all-stock transaction. This combination of two high-performing banks will create a leading Southeastern regional bank, with branches in Florida, Georgia and Alabama. Under the terms of the transaction, National Commerce shareholders will receive 1.65 shares of CenterState Bank for each share of National Commerce stock they own, representing a value of approximately $40.01 per share.

However, given that at least one analyst has set the high target price for NASDAQ NCOM shares at $46.00 per share and given that NASDAQ: NCOM shares reached in the open market as recently as July 2018 as high as $48.55 per share, the investigation concerns whether the offer is unfair to NASDAQ: NCOM stockholders. More specifically, the investigation concerns whether the National Commerce Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

National Commerce Corporation reported that its annual Total Revenue rose from $77.89 million in 2016 to $115.56 million in 2017 and that its Net Income increased from $17.85 million in 2016 to $20.06 million in 2017.

On November 30, 2018, NASDAQ: NCOM shares closed at $41.34 per share.

Those who are current investors in National Commerce Corporation (NASDAQ: NCOM) shares have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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