Replies to post #10 on First Horizon National Corporation (FHN)

[56Chevy]

The $225 MM was a nice cushion to land on after the failed M&A with TD Bank. No argument there.

However.. (as expected) the shareholders & arbs are not as happy as the D&O folks and have filed suit.

The accusations, costs and lengthy court battle can't be good for a bank looking to acquire or be acquired. It puts the bank into the slightly 'troubled' category until resolved.

FHN LAWSUIT ALERT: Levi & Korsinsky Notifies First Horizon Corporation Investors of a Class Action Lawsuit and Upcoming Deadline

June 09, 2023 13:00 ET

Source:
https://www.globenewswire.com/news-release/2023/06/09/2685718/0/en/FHN-LAWSUIT-ALERT-Levi-Korsinsky-Notifies-First-Horizon-Corporation-Investors-of-a-Class-Action-Lawsuit-and-Upcoming-Deadline.html

*Banking in general still sits in a precarious place in the minds of many depositors.

Marker:
FHN
$11.8705 0.1605 (1.4%)
Volume: 8,317,113
.

[Enterprising Investor]

Series G Preferred issued to TD was converted to common stock in June, resulting in TBV increasing by $0.50 per share.