Carter Bankshares (CARE) gets Justice family suit dismissed with prejudice
Rhea-AI Filing Summary
Carter Bankshares, Inc. and its wholly owned subsidiary Carter Bank & Trust announced that a lawsuit in the Circuit Court of Greenbrier County, West Virginia brought by James C. Justice, II, members of his family, and related entities has been voluntarily dismissed with prejudice as of August 17, 2026.
“With prejudice” means the dismissal is final as to those claims in that court. The disclosure does not describe the underlying allegations or any financial terms, focusing solely on the procedural resolution of the case.
Positive
- Lawsuit by the Justice Parties has been voluntarily dismissed with prejudice, removing an outstanding legal proceeding.
- Dismissal with prejudice on August 17, 2026 reduces ongoing litigation uncertainty for Carter Bankshares, Inc.
Negative
- None.
8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
Event date: August 17, 2026
Par value per share: $1.00
Commission file number: 001-39731
3 metrics
Event date
August 17, 2026
Date the company announced the lawsuit was voluntarily dismissed with prejudice
Par value per share
$1.00
Par value of Carter Bankshares, Inc. common stock
Commission file number
001-39731
SEC registration file number for Carter Bankshares, Inc.
Key Terms
dismissed with prejudice, wholly-owned subsidiary, Emerging growth company, Section 12(b)
4 terms
dismissed with prejudice regulatory
"has been voluntarily dismissed with prejudice"
A court decision that ends a lawsuit permanently and prevents the same claim from being filed again. For investors, a dismissal with prejudice removes a legal cloud over a company’s finances or operations, reducing the risk of future litigation on that issue much like closing a chapter in a book so it can’t be reopened; it can affect a company’s liability estimates, stock risk profile, and investor confidence.
wholly-owned subsidiary financial
"the Company and its wholly-owned subsidiary, Carter Bank & Trust"
A wholly-owned subsidiary is a company whose entire ownership is held by another company, called the parent, so the parent controls all shares, board appointments and major decisions. For investors this matters because the subsidiary’s profits, losses, assets and liabilities are treated as part of the parent’s financial picture, affecting valuation and risk exposure — imagine a parent owning a single storefront outright and consolidating its receipts and bills into the parent’s books.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Section 12(b) regulatory
"Securities registered pursuant to Section 12(b) of the Act"
Section 12(b) of the U.S. Securities Exchange Act requires securities listed on a national stock exchange to be registered with the U.S. Securities and Exchange Commission (SEC) and to follow regular public reporting and disclosure rules. For investors, a 12(b) listing generally means more routine financial updates, regulatory oversight and easier buying and selling—like a storefront that must display its inventory and prices, making it simpler to inspect and trade the product.
FAQ
AI-generated analysis. How Rhea-AI works. Not financial advice.
