Whitney Shareholder Sues To Block $1.5B Hancock Buy

Law360 (February 10, 2011, 3:38 PM EST) -- Realistic Partners has launched a proposed class action on behalf of Whitney Holding Corp. shareholders, seeking to halt Hancock Holding Co.'s $1.5 billion purchase of the Whitney National Bank parent company and alleging an unnamed company offered a higher price.

Realistic Partners filed the complaint against Whitney, its CEO and directors, and Hancock on Monday in the U.S. District Court for the Eastern District of Louisiana.

The Hancock deal — announced in late December — still awaits a vote by Whitney shareholders, along with customary and...
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