Acquisition of Firstbank Corporation (FBMI) by Mercantile Bank Corp. (MBWM) May Be Detrimental to the Interests of Firstbank Corporation Shareholders Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Firstbank Corporation
NEW YORK, Sept. 27, 2013 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Firstbank Corporation ("Firstbank" or the "Company") (NasdaqGS: FBMI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Mercantile Bank Corp. ("Mercantile") (NasdaqGM: MBWM) in a deal valued at approximately $216 million. Under the terms of the proposed transaction, Firstbank's shareholders will receive one share of Mercantile common stock.
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The investigation focuses on whether Firstbank's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Firstbank shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Firstbank and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/FBMI or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
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Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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