We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Sevier County Bancshares, Inc. (“SVRH” or the “Company”) (OTC: SVRH) in connection with the proposed acquisition of the Company by SmartFinancial, Inc. (“SmartFinancial”) (NASDAQ: SMBK).  Under the terms of the acquisition agreement, SVRH shareholders will receive 0.4116 shares of SmartFinancial for each share of SVRH common stock that they own, representing implied consideration of $8.75 based upon SmartFinancial’s April 13, 2021 closing price of $21.25, provided that holders of fewer than 20,000 shares of SVRH common stock can elect to receive either 0.4116 shares of SmartFinancial or cash in an amount to be calculated based on the average trading price of SmartFinancial’s common stock prior to the closing of the transaction, for each share of SVRH common stock that they own.  The transaction is valued at approximately $38.2 million.

WeissLaw LLP is investigating whether (i) SVRH’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates SVRH’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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