NEW YORK, Dec. 21, 2011 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of CommerceFirst
Bancorp, Inc. ("CommerceFirst" or the "Company") (Nasdaq: CMFB) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Sandy Spring
Bancorp, Inc. (Nasdaq: SASR). Under the proposed agreement,
Sandy Spring will acquire all of the
shares of CommerceFirst common stock for a combination of 50%
Sandy Spring common stock and 50%
cash. CommerceFirst shareholders may elect to receive cash, stock,
or a combination of both. The stock consideration will be at
a fixed exchange ratio of 0.8043 of a Sandy
Spring share and the cash consideration will be $13.60 per share. The transaction has a
total approximate value of $25.4
million in cash and stock.
Click here to learn how to join the action:
http://www.zlk.com/commercefirst-bancorp-cmfb, or call:
877-363-5972.
The investigation concerns whether the CommerceFirst Board of
Directors breached their fiduciary duties to CommerceFirst
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Sandy Spring Bancorp,
Inc. is underpaying for CommerceFirst shares, thus unlawfully
harming CommerceFirst stockholders.
If you own common stock in CommerceFirst and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or http://www.zlk.com.
Levi & Korsinsky has extensive expertise in prosecuting
investor securities litigation involving financial fraud and
represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. For more
information, please feel free to contact any of the attorneys
listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP