The Law Office of Abe Shainberg Announces Investigation of Tower Bancorp, Inc.
22 Juin 2011 - 7:46PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Tower Bancorp, Inc. (NASDAQ: TOBC) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Susquehanna Bancshares,
Inc. (NASDAQ: SUSQ). Under the terms of the proposed transaction,
Tower shareholders may elect to receive either 3.4696 shares of
Susquehanna common stock or $28.00 in cash per share for a total
transaction value of approximately $343 million.
The investigation concerns whether the Tower Board of Directors
breached their fiduciary duties to Tower stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Susquehanna Bancshares, Inc. is underpaying for Tower
shares.
If you own common stock in Tower and wish to obtain additional
information, please contact Abe Shainberg, Esq. either via email at
as@ashainberglaw.com or by telephone at (212) 425-7286, or visit
http://www.ashainberglaw.com/tower-bancorp.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
Tower Bancorp (MM) (NASDAQ:TOBC)
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