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Rigrodsky & Long, P.A. Investigates Whitney Holding Corporation Buyout

^{Published on 2010-12-22 08:47:39 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Whitney Holding Corporation (aWhitneya or the aCompanya) (Nasdaq: [ WTNY ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Hancock Holding Company (Nasdaq: HBHC) (aHancocka) in a stock-for-stock transaction. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/WhitneyHoldingCorporation-WTNY ].

Under the proposed agreement, shareholders of Whitney will receive 0.418 shares of Hancock common stock in exchange for each share of Whitney common stock they own. The value of a Whitney share would be $15.48 based on Hancocka™s closing price on December 21, 2010 of $37.04.

The investigation concerns whether Whitneya™s board of directors failed to adequately shop the Company and obtain the best price possible for Whitneya™s shareholders before entering into the agreement with Hancock.

If you own the common stock of Whitney and purchased your shares before December 22, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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