SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of Franklin Financial Corp. in Connection with the Sale of th...
26 Juillet 2014 - 3:45AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Franklin Financial Corporation (“Franklin Financial” or the
“Company”) (Nasdaq: FRNK) relating to the proposed acquisition by
TowneBank.
Click here to learn more about the investigation
http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Franklin Financial
shareholders will receive only 1.40 shares of TowneBank stock for
each share of Franklin Financial stock they own. The transaction
represents a value of only approximately $23.04 per share. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Franklin
for not acting in the Company’s shareholders' best interests in
connection with the sale process.
The transaction may undervalue the Company and represents no
real premium for many Franklin Financial shareholders. For example,
Franklin Financial recently traded at $23.42 on July 1, 2014. In
addition the transaction appears to be a capital raise for
TowneBank due to Franklin Financial’s strong capital base. As of
March 31, 2014, Franklin Financial had total deposits of $671
million and net loans of $555 million. The Company’s capital ratios
are among the strongest in the nation.
If you own shares of Franklin Financial common stock and wish to
discuss the legal ramifications of the investigation, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90investorrelations@brodsky-smith.comhttp://brodsky-smith.com/796-frnk-franklin-financial-corporation.html
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