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Cville-Based Bank Shareholders File Lawsuit - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Cville-Based Bank Shareholders File Lawsuit

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StellarOne Bank StellarOne Bank

Union First Market Bankshares' efforts to acquire Charlottesville-based StellarOne has now sparked a lawsuit from shareholders.

Richmond Biz Sense reports StellarOne shareholders have filed suit alleging breach of "fiduciary duty" to shareholders by both banks and that the proposed deal was driven by self-interest of certain officers and directors.

The case was filed in June after the $445 million deal was announced.  

The merger has yet to be approved by regulators and shareholders.

 

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