PE Firm Denies It Unfairly Pushed $2.2B Capital Bank Deal
Law360 (September 24, 2020, 7:43 PM EDT) -- Private equity firm Crestview Partners LP told a Delaware vice chancellor Thursday that a proposed class of Capital Bank Financial Corp. shareholders has not shown the firm had the means to unduly influence Capital Bank's $2.2 billion sale to First Horizon National Corp. in 2017 so it could liquidate its ownership stake.
During a virtual hearing, counsel for Crestview and three former Capital Bank officers told Vice Chancellor Kathaleen S. McCormick that former Capital Bank stockholder Sandra Searles couldn't back her assertions that the officers breached their fiduciary duty, or that Crestview knowingly and substantially contributed to any alleged breaches in...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!