The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of VIST F...
February 02 2012 - 3:41PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
VIST Financial Corp. (“VIST ” or the “Company”) (Nasdaq: VIST) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Tompkins
Financial (AMEX: TMP). Under the terms of the agreement, VIST
shareholders will receive 0.3127 shares of Tompkins Financial
common stock for each share of VIST common stock they own. Based on
a 20-day average of closing prices for Tompkins Financial stock,
this represents a value of $12.50 per VIST common share. The
transaction has a total approximate value of $86 million.
Click here to learn how to join the action:
http://www.zlk.com/vist-financial-corp-vist, or call:
877-363-5972.
The investigation concerns whether the VIST Board of Directors
breached their fiduciary duties to VIST stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Tompkins Financial is underpaying for VIST shares, thus
unlawfully harming VIST stockholders. In particular, VIST has
reported a book value of $17.80 per share for the most recent
quarter.
If you own common stock in VIST 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.
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