WAYNE, Pa., Aug. 16, 2013 /PRNewswire/ -- Ryan &
Maniskas, LLP (www.rmclasslaw.com/cases/fbmi) is investigating
potential claims against the board of directors of Firstbank
Corporation ("Firstbank" or the "Company") (NASDAQ: FBMI)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company's efforts to sell the Company to
Mercantile Bank Corporation ("Mercantile") in a transaction valued
at approximately $151.5
million.
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Our investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Firstbank for not acting in the Company's shareholders' best
interests in connection with the sale process. For more
information regarding our investigation, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/fbmi.
Under the terms of the proposal, public shareholders of
Firstbank will receive 1.00 share of Mercantile common stock for
each share of Firstbank they own. Based upon Mercantile's closing
stock price on August 14, 2013,
Firstbank shareholders would have received consideration valued at
approximately $18.77 per share.
If you own shares of Firstbank would like to learn more about
these claims or if you wish to discuss these matters and have any
questions concerning this announcement or your rights, contact
Richard A. Maniskas, Esquire
toll-free at (877) 316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/fbmi. You may also email Mr.
Maniskas at rmaniskas@rmclasslaw.com. For more information
about class action cases in general, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas,
LLP
Richard A. Maniskas,
Esquire
995 Old Eagle School Rd., Suite
311
Wayne, PA
19087
877-316-3218
www.rmclasslaw.com/cases/fbmi
rmaniskas@rmclasslaw.com
SOURCE Ryan & Maniskas, LLP