NEW YORK, Sept. 27, 2013
/PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi &
Faruqi, LLP, a leading national securities firm headquartered in
New York City, is investigating
the Board of Directors of Firstbank Corporation ("Firstbank" or the
"Company") (NasdaqGS: FBMI) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to Mercantile Bank Corp. ("Mercantile") (NasdaqGM: MBWM) in
a deal valued at approximately $216
million. Under the terms of the proposed transaction,
Firstbank's shareholders will receive one share of Mercantile
common stock.
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The investigation focuses on whether Firstbank's Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct an adequate and fair sales
process prior to agreeing to this proposed transaction, whether and
by how much this proposed transaction undervalues the Company to
the detriment of Firstbank shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients.
If you own common stock in Firstbank and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/FBMI or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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Faruqi, LLP (www.faruqilaw.com). Prior results do not
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