Law Firm Brower Piven Announces Investigation in Connection With the Acquisition of Fidelity Bancorp, Inc. by WesBanco, Inc.
25 7월 2012 - 6:34AM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Fidelity Bancorp, Inc. (Nasdaq: FSBI)
(“Fidelity”) and other violations of state law by the board of
directors of Fidelity relating to the proposed acquisition of the
company by WesBanco, Inc. (“WesBanco”). The firm’s investigation
seeks to determine, among other things, whether the board breached
its fiduciary duties by failing to maximize shareholder value.
On July 19, 2012 Fidelity and WesBanco announced that they had
entered into a definitive Agreement and Plan of Merger providing
for WesBanco to acquire Fidelity for approximately $70.8 million.
Under the terms of the proposed transaction, Fidelity shareholders
will receive 0.8275 shares of WesBanco common stock and cash in the
amount of $4.50 per share for each share of Fidelity common stock
held. Based on the closing price of WesBanco shares on July
19, 2012, this deal represents a value of approximately $22.85
per Fidelity share. However, according to Yahoo! Finance, analysts
have set a median price target of $25.10 per share.
All of the directors and executive officers of Fidelity have
entered into voting agreements with WesBanco pursuant to which they
have agreed to vote their shares in favor of the transaction.
If you currently own shares of Fidelity and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
Fidelity Bancorp (NASDAQ:FSBI)
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부터 11월(11) 2024 으로 12월(12) 2024
Fidelity Bancorp (NASDAQ:FSBI)
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부터 12월(12) 2023 으로 12월(12) 2024
