Huntington Bancshares (HBAN) And TCF Financial Merge, Stock Drops
Silver Law Group is investigating Huntington Bancshares Inc. (HBAN) regarding potential violations of securities laws.
If you own shares of Huntington Bancshares (HBAN), Silver Law Group may be able to help recover your investment losses. Contact us today for a no-cost consultation at 800-975-4345.
Huntington, TCF Financial Merge
In June, 2021, Detroit-based TCF Financial Inc. merged into Ohio-based Huntington Bancshares Inc. merged to become the second-biggest bank in the state of Michigan and a top 25 U.S. bank. The merged bank uses the Huntington Bancshares (HBAN) name and had almost $41 billion in deposits in the state as of mid-2021 and $143 billion total deposits at the end of 2021.
TCF common stock holders received 3.0028 shares of Huntington Bancshares common stock. Instead of receiving fractional shares, TCF shareholders were paid cash.
TCF Financial Shares Exchanged For Huntington Bancshares
In March, 2023, following the collapse of Silicon Valley Bank, investors had concerns about the security of the deposits held in regional banks. On March 8, 2023 Huntington stock closed at $14.44/share. On March 13, 2023 the stock closed at $11.49/share, a drop of 20%.
The stock has since fallen further, as of this writing in early May, 2023, the stock trades at less than $10 per share, a significant drop from the over $15 per share in February, 2023.
Silver Law Group is investigating whether Huntington made false or misleading statements or omitted material information to investors. Huntington Bank’s headquarters are in Columbus, Ohio 43287.
Do You Own Shares Of Huntington Bancshares (HBAN)?
Silver Law Group is a nationally-recognized law firm representing victims of securities and investment fraud. Our attorneys represent investors nationwide and internationally in class action lawsuits against issuers in state and federal court and in arbitration claims in cases of stockbroker misconduct.
Scott Silver, managing partner of Silver Law Group, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Contact us for a consultation at no-cost at firstname.lastname@example.org or call (800) 975-4345.