The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Br

eaches of Fiduciary Duty by the Board of GRNB

Levi & Korsinsky is investigating the Board of Directors of Green Bancshares, In
c. (“GRNB” or the “Company”) (Nasdaq: GRNB) for possible breaches of fiduciary duty in c
onnection with the acquisition of a 90.1% stake in the Company by North American
Financial Holdings.
New York, NY, May 09, 2011 -- Levi & Korsinsky is investigating the Board of Dir
ectors of Green Bancshares, Inc. (“GRNB” or the “Company”) (Nasdaq: GRNB) for possible b
reaches of fiduciary duty and other violations of state law in connection with t
he acquisition of a 90.1% stake in the Company by North American Financial Holdi
ngs (“NAFH”). Under the terms of the transaction, approximately 120 million shares
of GRNB common stock will be newly issued at a price of $1.81 per share. Curren
t GRNB shareholders will also receive a Contingent Value Right, entitling them t
o cash proceeds of up to $0.75 per share, based on the credit performance of GRN
B’s legacy loan portfolio over the five years following the deal’s closing. The tra
nsaction has a total value of approximately $217 million.
Click here to learn how to join the action: http://www.zlk.com/green-bancshares-
grnb.html, or call: 877-363-5972.
The investigation concerns whether the GRNB Board of Directors breached their fi
duciary duties to GRNB stockholders by failing to adequately shop the Company be
fore entering into this transaction and whether NAFH is underpaying for GRNB sha
res, thus unlawfully harming GRNB stockholders. In particular, GRNB stock trade
d as high as $3.53 as recently as February 15, 2011. Furthermore, GRNB reported
a book value of $5.79 per share for the most recent quarter.
If you own common stock in GRNB and wish to obtain additional information, pleas
e contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone
at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/green
-bancshares-grnb.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and
extensive experience in actions involving financial fraud and represents invest
ors throughout the nation, concentrating its practice in securities and sharehol
der litigation. The attorneys at Levi & Korsinsky have been appointed by numero
us courts throughout the country to serve as lead counsel on behalf of sharehold
ers in major litigations involving mergers and acquisitions. Attorney advertisi
ng. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP, Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broa
d Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877
) 363-5972, Fax: (212) 363-7171, www.zlk.com
Contact :
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St.
15th Floor
New York, NY 10004
+212-363-7500
jchlebus@zlk.com
http://www.zlk.com