NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Southcoast Financial Corp. (“Southcoast” or the “Company”) (NASDAQ: SOCB) for potential breaches of fiduciary duties in connection with the sale of the Company to BNC Bancorp for approximately $95.5 million. The Company’s stockholders will only receive a fixed price of $13.35 for each share of Southcoast common stock, payable in share