The Ademi Firm is investigating Veritex (NASDAQ: VBTX) for possible breaches of fiduciary duty and other violations of law in its transaction with Huntington.
In the transaction, shareholders of Veritex will receive 1.95 shares for each outstanding share of Veritex. Based on Huntington’s closing price of $17.39 on July 11, 2025, the consideration implies $33.91 per Veritex share.
Veritex insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Veritex by imposing a significant penalty if Veritex accepts a competing bid. We are investigating the conduct of the Veritex board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.