Crestview, Capital Bank Execs Sued Over First Horizon Merger (2)

Crestview Partners LP, one of its partners, and Capital Bank Financial Corp.’s co-founders were hit with a Delaware lawsuit claiming they defrauded the bank’s board into approving its $2.2 billion sale to First Horizon National Corp. in exchange for golden parachutes, quick cash, and a plum post-deal job.

In addition to Crestview, the Chancery Court suit targets Capital Bank co-founders R. Eugene Taylor and Chris Marshall—its former CEO and CFO, respectively—and Chris DeMartini, a Crestview partner who sat on the bank’s board. The private equity firm held a $500 million stake in Capital Bank at the time of the deal, ...