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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Wh

^{Published on 2010-12-22 10:16:46 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Whitney Holding Group (aWhitneya or the aCompanya) (Nasdaq: WTNY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Hancock Holding Company (aHancocka) (Nasdaq: HBHC). Under the terms of the transaction, Whitney shareholders will receive 0.418 share of Hancock common stock for each share of Whitney they own. Based on the previous closing prices, the transaction values Whitney stock at $15.48 per share with a total transaction value of approximately $1.5 billion.

The investigation concerns whether the Whitney Board of Directors breached their fiduciary duties to Whitney stockholders by failing to adequately shop the Company before entering into this transaction and whether Hancock is underpaying for Whitney shares, thus unlawfully harming Whitney stockholders.

If you own common stock in Whitney and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/whitney-wtny.html ].

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.