Annapolis Bancorp Investor Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to FNB Corp.
23 Ottobre 2012 - 6:48PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Annapolis Bancorp, Inc.
(“Annapolis”) (NasdaqCM: ANNB) to FNB Corp. for shareholders. Under
the proposed sale, Annapolis shareholders will receive 1.143 shares
FNB common stock for each share of Annapolis stock owned in a deal
valued at $49 million. Based upon Monday’s closing, the transaction
values ANNB stock at approximately $12.21 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Annapolis sale investigation centers on whether Annapolis
shareholders are receiving adequate compensation for their shares
in the buyout, whether the transaction undervalues Annapolis stock,
and whether Annapolis’s board attempted to obtain the highest share
price for all shareholders prior to agreeing to the deal.
Shareholder rights attorney Willie Briscoe stated that “because
Annapolis shareholders will only receive FNB common stock for their
shares, we believe that the transaction may undervalue Annapolis
stock. Our lawsuit will seek to obtain the highest share price for
all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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