Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of First Financial Holdings, Inc. (FFCH)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of First Financial Holdings, Inc. (“First Financial” or the “Company”) (NasdaqGS: FFCH) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to SCBT Financial Corporation (“SCBT”) (NasdaqGS: SCBT) in a stock-for-stock deal valued at approximately $302.4 million. Under the terms of the proposed transaction, First Financial’s stockholders will receive 0.4237 of a SCBT share per each share of First Financial’s common stock they own. The consideration to be received by First Financial’s shareholders is valued at $19.99 based on today’s SCBT closing price.
The investigation focuses on whether First Financial’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Firs Financial’s shareholders.
If you own common stock in First Financial and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.