NEW YORK, Jan. 24, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of North Valley Bancorp ("North Valley" or "the Company") (Nasdaq: NOVB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to TriCo Bancshares (NasdaqGS: TCBK).
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Under the terms of the transaction, North Valley shareholders will receive 0.9433 shares of TriCo Bancshares common stock for each share of North Valley common stock they own, representing a value of approximately $26.09 per share. The transaction has a total approximate value of $178.4 million. The investigation concerns whether the North Valley Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether TriCo Bancshares is underpaying for North Valley shares.
If you own North Valley common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/north-valley-bancorp-novb.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.com
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