An investigation on behalf of investors of TCF Financial Corporation (NYSE: TCF) in connection with the proposed takeover was announced and NYSE: TCF stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/06/2019 -- The takeover of TCF Financial Corporation is under investigation concerning potential wrongdoing.
Investors who purchased shares of TCF Financial Corporation (NYSE: TCF) and currently hold any of those NYSE: TCF shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of TCF Financial Corporation breached their fiduciary duties owed to NYSE: TCF investors in connection with the proposed acquisition.
Wayzata, MN based TCF Financial Corporation operates as the holding company for TCF National Bank that provides various financial products and services in the United States and Canada. On January 28, 2019, Chemical Financial Corporation (NASDAQ: CHFC) and TCF Financial Corporation (NYSE: TCF) announced the signing of an agreement under which the companies will combine in an all-stock merger of equals transaction. Under the terms of the transaction, TCF Financial Corporation (NYSE: TCF) shareholders will receive 0.5081 shares of Chemical common stock for each share of TCF Financial Corporation (NYSE: TCF) common stock they own; this represents a value of approximately $21.58 per share.
However, given that at least one analyst has set the high target price for NYSE: TCF shares at $26.00 per share, the investigation concerns whether the offer is unfair to NYSE: TCF stockholders. More specifically, the investigation concerns whether the TCF Financial 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.
Shares of TCF Financial Corporation (NYSE: TCF) closed on February 5, 2019, at $22.55 per share.
Those who are current investors in TCF Financial Corporation (NYSE: TCF) shares have certain options and should contact the Shareholders Foundation.
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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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