Friday, April 30, 2010

Disgruntled Shareholder Sues Bank to Gain Access to Records

- The Island Packet

A shareholder who says he is concerned about the direction of CoastalStates Bank is urging fellow investors to "hold management accountable for their actions and ask questions" during an annual meeting Wednesday on Hilton Head Island.

George N. Snelling of Augusta, Ga., placed advertisements in Sunday's Island Packet and Beaufort Gazette. In the ads, he says he is the largest individual shareholder of the Hilton Head-based bank's parent company, CoastalSouth Bancshares, and has sued to gain access to the bank's records.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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