Texas Capital Bancshares, Inc. (TCBI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Texas Capital Bancshares, Inc. ("Texas Capital” or "the Company") (NASDAQ: TCBI). The investigation concerns whether Texas Capital and certain of its officers and/or directors have violated federal securities laws.
On December 9, 2019, Texas Capital and Independent Bank Group (“Independent Bank”) announced that they would combine in a merger of equals. Per a joint statement issued by the two companies, the combined entity would have approximately $48 billion in assets and $39 billion in deposits, with legacy Texas Capital shareholders controlling 55% of the new entity. Then, on May 26, 2020, Texas Capital issued a press release announcing that Texas Capital and Independent Bank “have mutually agreed to terminate their merger agreement,” citing “the significant impact of the COVID-19 pandemic on global markets and on the companies’ ability to fully realize the benefits they expected to achieve through the merger.” That same day, Texas Capital also issued a second press release announcing the resignation of C. Keith Cargill from his roles as President, Chief Executive Officer and member of the Company’s Board of Directors, effective immediately. Following these announcement, Texas Capital’s stock price fell $1.02 per share, or 3.58%, to close at $27.50 per share on May 26, 2020.
If you are aware of any facts relating to this investigation, or purchased Texas Capital shares, you can also contact Peretz Bronstein of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.