WAYNE, Pa., May 13, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of SP Bancorp, Inc. ("SP Bancorp" or the "Company") (NASDAQ: SPBC) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to Green Bancorp, Inc. ("Green Bancorp"), in a transaction valued at approximately $46.2 million.
If you own shares of SP Bancorp and would like to learn more about this class action or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/spbc. You may also email Mr. Maniskas at firstname.lastname@example.org.
Under the terms of the agreement, shareholders of SP Bancorp would receive $29.55 in cash for each share of SP Bancorp they own.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of SP Bancorp for not acting in the Company's shareholders' best interests in connection with the sale process.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP