Shareholder Class Action for Pinnacle Financial Partners

Client Type: Public Company

We represented Pinnacle Financial Partners in a class action brought on behalf of shareholders of Avenue Bank, arising out of Pinnacle’s $200 million acquisition of Avenue. The plaintiff alleged that Avenue’s Board of Directors breached its fiduciary duties by agreeing to the transaction, and that Pinnacle aided and abetted the breach. The matter was settled on favorable terms and the deal closed. Bushansky v. Avenue Financial Holdings, et al., No.16-489-IV (Chancery Court, Davidson County, Tennessee).

Pinnacle Financial Partners (NASDAQ: PNFP) provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution.

We represented Pinnacle Financial Partners in a class action brought on behalf of shareholders of Avenue Bank, arising out of Pinnacle’s $200 million acquisition of Avenue. The plaintiff alleged that Avenue’s Board of Directors breached its fiduciary duties by agreeing to the transaction, and that Pinnacle aided and abetted the breach. The matter was settled on favorable terms and the deal closed. Bushansky v. Avenue Financial Holdings, et al., No.16-489-IV (Chancery Court, Davidson County, Tennessee).

Pinnacle Financial Partners (NASDAQ: PNFP) provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution.