SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of The...
12 Octobre 2012 - 10:05PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
The Savannah Bancorp, Inc. (“SAVB” or the “Company”) (Nasdaq: SAVB)
for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to SCBT
Financial Corporation (Nasdaq: SCBT).
Click here to learn more about the investigation:
http://zlk.9nl.com/the-savannah-bancorp-savb/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, SAVB shareholders will
receive 0.2503 shares of SCBT Financial Corporation common stock
for each share they own; based on the recent closing price of SCBT
stock, this represents a value of approximately $9.31 per share.
The transaction has a total approximate value of $67.1 million. The
investigation concerns whether the SAVB Board of Directors breached
their fiduciary duties to stockholders by failing to adequately
shop the Company before entering into this transaction and whether
SCBT Financial Corporation is underpaying for SAVB shares, thus
unlawfully harming SAVB stockholders. In particular, SAVB has a
reported Book Value of $11.63 per share for the most recent
quarter, and at least one analyst set a price target for SAVB stock
at $10.50 per share.
If you own common stock in SAVB and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://zlk.9nl.com/the-savannah-bancorp-savb/.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
The Savannah Bancorp, Inc. (MM) (NASDAQ:SAVB)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
The Savannah Bancorp, Inc. (MM) (NASDAQ:SAVB)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024
Real-Time news about The Savannah Bancorp, Inc. (MM) (NASDAQ): 0 recent articles
Plus d'articles sur Levi & Korsinsky