NEW YORK, Jan. 21, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of MutualFirst
Financial, Inc. ("MFSF" or the "Company") (NASDAQ: MFSF) in
connection with the proposed acquisition of the Company by
Northwest Bancshares, Inc. ("NWBI") (NASDAQ: NWBI). Under the terms
of the acquisition agreement, MFSF shareholders will receive 2.24
shares of NWBI common stock for each MFSF share they own,
representing consideration of $36.37,
based on NWBI's October 30 opening
price.
If you own MFSF shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/mutualfirst-financial-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether MFSF's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, at least one analyst set a target price
of $38.50, or $2.13 above the per-share consideration.
Additionally, prior to the announcement, the Company announced
positive financial results for the third quarter of 2019. It
reported net income of $6.1 million,
representing an approximately 12.5% increase year-over-year when
compared to the $5.4 million reported
in the same period of the previous year.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
