North Carolina Business Corporation Act

Plaintiff First Citizens Bancshares, Inc. (“First Citizens”) has moved to enjoin a shareholder rights plan implemented by Defendant KS Bancorp, Inc. (“KS Bancorp”), a private corporation, arguing that KS Bancorp’s plan violates North Carolina law by discriminating against only certain shares of stock¬†within a larger class of shares. KS Bancorp is a small, privately held, […]

Read more