NEW YORK, July 16, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Carolina Trust BancShares, Inc. (“Carolina Trust” or the “Company”) (NASDAQCM: CART) stock prior to July 15, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Carolina Trust to Carolina Financial Corporation (“Carolina Financial”) (NASDAQCM: CARO). Under the terms of the deal, Carolina Trust shareholders will receive 0.3000 shares of Carolina Financial common stock, or $10.57 in cash for each share of Carolina Trust’s common stock outstanding, subject to election and proration such that the aggregate consideration will consist of 90 percent Carolina Financial stock and 10 percent cash. To learn more about the action and your rights, go to:
https://www.zlk.com/mna/carolina-trust-bancshares-inc
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
The Carolina Trust merger investigation concerns whether the Board of Carolina Trust breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Carolina Financial is underpaying for Carolina Trust shares, thus unlawfully harming Carolina Trust shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com