SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of First Security Group, Inc. And Encourage...
March 30 2015 - 5:29PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of First Security Group, Inc. (“FSG”
or the “Company”) (Nasdaq: FSGI) relating to the proposed buyout of
the Company by Atlantic Capital Bancshares, Inc. (“Atlantic
Capital”).
Under the terms of the transaction, FSG shareholders may elect
cash equal to $2.35 per share, stock based on a fixed
exchange ratio of 0.188 shares of Atlantic Capital common stock for
each FSG share, or any combination thereof. The firm’s
investigation seeks to determine, among other things, whether the
Company’s Board of Directors failed to satisfy their duties to
shareholders, including whether the Board adequately pursued
alternatives to the acquisition and whether the Board obtained the
best price possible for the Company’s shares of common stock. In
particular, according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for FSG stock at $2.50 per
share.
If you currently own common stock of FSG and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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