BALA CYNWYD, Pa., Aug. 9, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Savannah
Bancorp, Inc. ("Savannah Bancorp" or the "Company") (Nasdaq: SAVB)
relating to the proposed acquisition by SCBT Financial Corporation
("SCBT").
Under the terms of the transaction, Savannah Bancorp
shareholders will receive 0.2503 shares of SCBT common stock for
each share of Savannah Bancorp stock they own. The transaction
values Savannah Bancorp stock at approximately $9.31 per share. The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Savannah Bancorp for not acting in
the Company's shareholders' best interests in connection with the
sale process to SCBT. The transaction undervalue the Company as
Savannah Bancorp stock traded at $9.50 per share on August
9, 2012 and an analyst target price for Savannah Bancorp
stock at $10.50 per share.
If you own shares of Savannah Bancorp 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
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/464-savb-savannah-bancorp-inc.html, or by
calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC