Rigrodsky & Long, P.A. Announces Investigation Of Virginia Commerce Bancorp, Inc. Buyout
31 Janvier 2013 - 11:36PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of Virginia
Commerce Bancorp, Inc. (NASDAQ GS: VCBI)?
- Did you purchase any of your shares
prior to January 30, 2013?
- Do you think the proposed buyout
price is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of Virginia
Commerce Bancorp, Inc. (“VCBI” or the “Company”) (NASDAQ GS: VCBI)
regarding possible breaches of fiduciary duties and other
violations of law related to the Company’s entry into an agreement
to be acquired by United Bankshares, Inc. (“UBSI”) (NASDAQ GS:
UBSI) in a transaction valued at approximately $491 million.
Click here to learn more:
http://www.rigrodskylong.com/investigations/virginia-commerce-bancorp-inc-vcbi.
Under the terms of the proposal, public shareholders of VCBI
will receive 0.5442 shares of UBSI for each share of VCBI they own.
Based upon UBSI’s closing stock price of $25.14 on January 30,
2013, VCBI shareholders would have received consideration valued at
approximately $13.68 per share.
The investigation concerns whether VCBI’s board of directors
failed to adequately shop the Company and obtain the best possible
value for VCBI’s shareholders before entering into an agreement
with UBSI. According to Yahoo! Finance, at least one analyst has
set a price target for VCBI stock at $14.00.
If you own the common stock of VCBI and purchased your shares
before January 30, 2013, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at
(888) 969-4242, by e-mail to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/virginia-commerce-bancorp-inc-vcbi.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Virginia Commerce Bancorp (MM) (NASDAQ:VCBI)
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