NEW YORK, Jan. 9, 2017 /PRNewswire/ -- Bronstein,
Gewirtz & Grossman, LLC notifies investors that a class action
lawsuit has been filed against Cardinal Financial Corporation
("Cardinal" or the "Company") (NASDAQ: CFNL) and certain of its
officers, and is on behalf of a class consisting of all persons or
entities who purchased Cardinal securities. Such investors are
advised to join this case by visiting the firm's site:
http://www.bgandg.com/cfnl
The complaint alleged violations of Sections 14(a) and 20(a) of
the Securities Exchange Act of 1934 (the "Exchange Act") and U.S.
Securities and Exchange Commission ("SEC") Rule 14a-9 in regards to
the proposed acquisition of the publicly owned shares of Cardinal
common stock by United Bankshares, Inc. ("United"), through its
wholly owned subsidiary, UBV Holding Company, LLC.
On August 18, 2016, Cardinal and
United announced that the two companies had entered a definitive
agreement under which United will acquire all of the outstanding
Cardinal shares for 0.71 United shares for every 1 Cardinal share.
By January 5, 2017, the per share
consideration for Cardinal shareholders had an implied value of
approximately $27.69 and the
aggregate consideration was worth close to $912 million. The complaint alleges that the
planned consideration is insufficient for Cardinal stock's true
value and its growth forecasts. The complaint also alleges that the
United's Registration Statement on Form S-4 filed with the SEC on
December 9, 2016 provides materially
incomplete and misleading information about its Company and the
proposed contract, in violation of the Exchange Act.
A class action lawsuit has already been filed. If you wish to
review a copy of the Complaint you can visit the firm's site:
http://www.bgandg.com/cfnl or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss
in Cardinal you have until March 6,
2017 to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC