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Investors Say Fla. Bank Converted Shares To Benefit PE Firms

By David Minsky ( July 5, 2023, 8:49 PM EDT) -- U.S. Century Bank shareholders on Wednesday brought a proposed class action in Florida federal court against six board members whom they claim violated the company's charter by exchanging shares to benefit private equity funds but reversed the transaction to comply with regulations, resulting in a $30 million shareholder loss....

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