Synovus Financial (SNV) said Tuesday in a regulatory filing that its merger with Pinnacle Financial Partners (PNFP) is facing three lawsuits filed by Synovus or Pinnacle shareholders.
The company said the plaintiffs claim that the joint proxy statement/prospectus for the merger transaction has incomplete information and certain disclosure deficiencies, among other allegations.
Synovus and Pinnacle said the allegations are "without merit" and that supplemental disclosures are not required under applicable regulations, but will supplement the joint proxy statement/prospectus to prevent any delay to the transaction.
Synovus and Pinnacle announced their $8.6 billion all-stock merger deal in July.
Price: 85.93, Change: -1.03, Percent Change: -1.18