First Financial Holdings, Inc. (NASDAQ:FFCH) Investor Investigation Of Takeover By SCBT Financial Corporation

If you purchased shares of First Financial Holdings, Inc. (NASDAQ:FFCH) prior to February 20, 2013, and currently hold any of those NASDAQ:FFCH shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
First Financial Holdings
Affected Securities: 
NASDAQ: FFCH

Feb. 20, 2013 (Shareholders Foundation) -- An investigation on behalf of investors in H First Financial Holdings, Inc. (NASDAQ:FFCH) shares was announced concerning whether the offer by SCBT Financial Corporation to merge with First Financial Holdings, Inc. for a value of $18.30 per NASDAQ:FFCH share and the takeover process are unfair to investors in First Financial Holdings shares.

The investigation by a law firm concerns whether certain officers and directors of First Financial Holdings, Inc. breached their fiduciary duties owed to NASDAQ:FFCH investors in connection with the proposed acquisition.

On Feb. 20, 2013, SCBT Financial Corporation (NASDAQ: SCBT) and First Financial Holdings, Inc. (NASDAQ: FFCH) jointly announced the signing of a merger agreement under which SCBT Financial Corporation and First Financial Holdings, Inc will merge to position the combined company to become a premier regional bank. Under the terms of the agreement, shareholders of First Financial Holdings, Inc. will receive 0.4237 shares of SCBT Financial Corporation (NASDAQ: SCBT) common stock for each share of First Financial Holdings, Inc. (NASDAQ: FFCH) common stock, which equates to a deal value of $18.30 per share based on SCBT’s closing stock price of $43.18 on February 19, 2013.

However, the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:FFCH stockholders. More specifically, the investigation focuses on whether the First Financial Holdings Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.