Maryland-Based Law Firm Brower Piven Announces Investigation of BCSB Bancorp, Inc. Proposed Transaction
June 17 2013 - 2:35PM
Business Wire
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches
of fiduciary duty to current shareholders of BCSB Bancorp, Inc.
(“BCSB” or the “Company”) (Nasdaq: BCSB) and other violations of
state law by the board of directors of BCSB relating to the
proposed acquisition of the Company by F.N.B. Corporation (“FNB”).
The firm’s investigation seeks to determine, among other things,
whether the board of directors of BCSB breached their fiduciary
duties by failing to maximize shareholder value.
According to the press release announcing the proposed
transaction, BCSB shareholders will receive 2.08 shares of FNB
common stock for each common share of BCSB. According to the press
release, the proposed transaction is valued at approximately $23.77
per share, or $79 million in the aggregate using the closing stock
price of FNB as of June 13, 2013.
If you currently own common stock of BCSB and would like to
learn more about the investigation being conducted by Brower Piven,
you may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Brower Piven is the only
firm headquartered in Maryland with a practice dedicated primarily
to shareholder class action litigation. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
Brower Piven, A Professional CorporationStevenson,
MarylandCharles J. Piven, 410-415-6616hoffman@browerpiven.com
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