VantageSouth Bancshares, Inc. Merger Litigation (NYSE MKT: VSB)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of VantageSouth Bancshares, Inc. - VSB
BALA CYNWYD, January 29, 2013 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of VantageSouth Bancshares, Inc. (“VantageSouth” or the “Company”) NYSE MKT –VSB-News) relating to the acquisition by Yadkin Financial Corporation (“YDKN”).
Under the terms of the transaction, VantageSouth shareholders will receive only 0.3125 shares of YDKN stock for each share of VantageSouth stock they own. The transaction values VantageSouth stock at approximately $5.41 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of VantageSouth for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company and will result in a loss or no gain for many long term VantageSouth shareholders. VantageSouth stock traded above the sale price at $5.78 per share as recently as August 6, 2013 and an analyst has set a $6.50 per share price target on VantageSouth stock.
If you own shares of VantageSouth common stock and wish to discuss the legal ramifications of the proposed transaction, 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 firstname.lastname@example.org, 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.
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