NEW YORK, May 23, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Guaranty Bancorp
("GBNK" or the "Company") (NASDAQ: GBNK) in connection with the
proposed acquisition of the Company by Independent Bank Group Inc.
("IBTX") (NASDAQ: IBTX). Under the terms of the acquisition
agreement, GBNK shareholders will receive 0.45 of a IBTX share in
exchange for each GBNK share they own, representing consideration
of $ 32.73 per GBNK share, based on
IBTX's May 23 trading price of
$72.75.
WeissLaw is investigating whether GBNK's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, according to IBTX's Chairman and CEO, "[t]his transaction
represents the build out of [IBTX's] Colorado footprint through the acquisition of
a high quality bank operating in dynamic markets along the Front
Range. [GBNK] is the premier Colorado banking franchise and brings a
committed management team, consistent level of high profitability,
clean balance sheet, strong core deposit base, and a track record
of growth."
Moreover, the Company recently announced record earnings.
It reported net income of $13.6
million in the first quarter of 2018, representing an
impressive 37.7% annual increase when compared to the figures
reported in the same period of the previous year.
Given these facts, WeissLaw is investigating whether GBNK's
Board acted in the best interests of GBNK's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own GBNK shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/guaranty-bancorp/
View original
content:http://www.prnewswire.com/news-releases/weisslaw-llp-investigates-guaranty-bancorp-acquisition-300654016.html
SOURCE WeissLaw LLP