trending Market Intelligence /marketintelligence/en/news-insights/trending/10zyeVYESp4sx9pgSWJIvw2 content esgSubNav
In This List

2nd merger-related lawsuit names ASB Bancorp's acquirer as defendant

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


2nd merger-related lawsuit names ASB Bancorp's acquirer as defendant

ASB Bancorp Inc. is now facing two lawsuits claiming the company made inadequate disclosures regarding its pending merger with First Bancorp.

The lawsuits were filed July 14 and July 19 in the U.S. District Court for the Western District of North Carolina, both by purported shareholders. The first names ASB and its board as defendants. The second adds First Bancorp to the defendant list.

The plaintiffs seek the termination of the merger or rescissory damages in the event it pushes through, among other damages.