LegacyTexas Financial Group, Inc. Securities Litigation

If you purchased a significant amount of shares of LegacyTexas Financial Group, Inc. (NASDAQ: LTXB), you have certain options. Investors should register for updates.


Lawsuit Overview

Defendant:LegacyTexas Financial Group, Inc.
Date Filed:September 4th, 2019
Industry:Savings Institutions
Class Start Date:June 17th, 2019
Class End Date:September 4th, 2019

According to the Complaint, LegacyTexas Financial Group, Inc. is a bank holding company that operates the Bank. The Bank is a commercially oriented community bank based in Plano, Texas.

This action stems from a proposed transaction announced on June 17, 2019, pursuant to which LegacyTexas Financial Group, Inc. will be acquired by Prosperity Bancshares, Inc.

On June 16, 2019, LegacyTexas's Board of Directors caused the Company to enter into an agreement and plan of merger with Prosperity. Pursuant to the terms of the Merger Agreement, LegacyTexas stockholders will receive 0.5280 shares of Prosperity common stock and $6.28 in cash for each share of LegacyTexas common stock they own.

On August 23, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

Sign up for free to create a personalized portfolio with tracking and e-mail alerts for LegacyTexas Financial Group, Inc.

First Identified Complaint

Richard Tijerina, et al. v. LegacyTexas Financial Group, Inc., et al.

Date Filed:September 4th, 2019
Class Period Start:June 17th, 2019
Class Period End:September 4th, 2019
First Identified Complaint Filings
#Document TitleFiling Date