Alliance Bankshares Corporation Merger Litigation (Nasdaq: ABVA)
Law Office of Brodsky & Smith, LLC Announces Investigation of Alliance Bankshares Corporation
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Alliance Bankshares Corporation. (“Alliance” or the “Company”) (Nasdaq - ABVA- News) relating to the proposed acquisition by Eagle Bancorp, Inc (Nasdaq – EGBN) (“Eagle”).
Under the terms of the transaction Alliance shareholders would receive 0.4317 shares of Eagle stock for each share Alliance stock they own. The transaction values Alliance stock at approximately $6.11 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Alliance for not acting in the Company’s shareholders' best interests in connection with the sale process to Eagle. The transaction may undervalue Alliance as stock treaded at $6.65 as recently as April 29, 2011 and an analyst has set a price target of $19.00 per share.
If you own shares of Alliance 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 email@example.com, or by calling toll free 877-LEGAL-90.
To Join the Alliance Bankshares Corporation Litigation
Fill out this form
The complaint is unavailable at this time