SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of LSB Financial Corp. In Connection With The Proposed Sale Of Th...
14 Juin 2014 - 3:45AM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of LSB
Financial Corp. (“LSB Financial” or the “Company”) (NasdaqGM: LSBI)
and other violations of state law by the board of directors of LSB
Financial relating to the proposed buyout of the Company by Old
National Bancorp (“Old National”), in a transaction valued at
approximately $66.7 million.
Under the terms of the transaction, public shareholders of LSB
Financial would receive 2.269 shares of Old National common stock
and $10.63 in cash for each share of LSB Financial they own. Based
on Old National’s closing stock price on June 3, 2014, LSB
Financial shareholders would have received consideration valued at
approximately $41.67 per share. The firm’s investigation seeks to
determine, among other things, whether the Company’s board of
directors breached their fiduciary duties by failing to maximize
shareholder value before agreeing to enter into this transaction,
and whether Old National is underpaying for LSB Financial
shares.
If you currently own common stock of LSB Financial and would
like to learn more about the investigation being conducted by
Brower Piven, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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