NEW YORK, Sept. 10, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of United
Community Financial Corp. ("UCFC" or the "Company") (NASDAQ:
UCFC) in connection with the proposed acquisition of the Company by
First Defiance Financial Corp. ("FDEF") (NASDAQ: FDEF). Under
the terms of the agreement, UCFC shareholders will receive 0.3715
shares of FDEF common stock for each share of UCFC they own,
representing consideration of $9.77
based on FDEF's September 6 closing
price.
If you own UCFC shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our
website
http://www.weisslawllp.com/united-community-financial-corp/
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WeissLaw is investigating whether UCFC's Board acted
to maximize shareholder value prior to entering into the
acquisition agreement. Notably, at least one analyst set a
target price of $11.00 per UCFC
share, or $1.23 above the per-share
consideration. In addition, the Company recently announced
positive financial results for the second quarter of 2019. It
reported net income of $10.5 million,
representing growth of 9.9% year-over-year when compared to the
figures reported in the same period of the prior year.
Finally, according to the acquisition announcement, at close of the
transaction FDEF and its shareholders will become the majority
owners of the newly combined company with a 52.5% ownership stake,
leaving to UCFC and its shareholders the remaining 47.5%.
Given these facts, WeissLaw is concentrating its investigation
on whether the acquisition enhances shareholder value.
Specifically, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
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
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SOURCE WeissLaw LLP