Ademi LLP is investigating Stellar (NYSE: STEL) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with Prosperity Bancshares, Inc.
In the transaction, Stellar stockholders will receive 0.3803 shares of common stock and $11.36 in cash for each outstanding share of Stellar common stock in a transaction valued at approximately $2.002 billion. The valuation was based on Prosperity’s closing price of $72.90 on January 27, 2026.
Stellar insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Stellar by imposing a significant penalty if Stellar accepts a competing bid. We are investigating the conduct of the Stellar board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
Join this Action