Morgan & Morgan Announces the Investigation of Firstbank Corporation (FBMI) Merger
NEW YORK, Aug. 23, 2013 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential legal claims against the board of directors of Firstbank Corporation ("Firstbank") (Nasdaq: FBMI) regarding possible breaches of fiduciary duties and other violations of law related to the announced merger of Firstbank with Mercantile Bank Corp.
If you purchased Firstbank, and want more information about the Firstbank shareholder class action investigation, please contact George Pressly, Esq. at 1(800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
Under the terms of the proposal, public shareholders of Firstbank will receive one share of Mercantile Bank Corp. common stock for each share of Firstbank common stock they own. This represents a value of approximately $18.77 per share. Upon completion of merger, Firstbank shareholders will own 48% of the post-merger company.
Morgan & Morgan's investigation concerns whether Firstbank's Board of Directors breached its fiduciary duties to act in the best interests of Firstbank's shareholders and to take all necessary steps to ensure that Firstbank's shareholders receive the maximum value readily available for their shares of Firstbank common stock.
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to class action lawsuits, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
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SOURCE Morgan & Morgan