NEW YORK, Dec. 14, 2020 /PRNewsCentre/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of TCF Financial Corporation ("TCF" or the "Company") (NASDAQ: TCF) in connection with the proposed stock-for-stock merger of the Company with Huntington Bancshares Incorporated ("Huntington") (NASDAQ: HBAN). Under the terms of the merger agreement, TCF shareholders will receive 3.0028 shares of Huntington common stock for each share of TCF that they hold, representing implied per-share merger consideration of $38.82 based upon Huntington’s December 11, 2020 closing price of $12.93.
If you own TCF shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether (i) TCF’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates TCF’s shareholders; and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, multiple analysts set price targets for TCF above the implied merger consideration, with a high target of $42.00.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
SOURCE: WeissLaw LLP