SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of MetroCorp Bancshares, Inc. Buyout
WILMINGTON, Del., Nov. 11, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of MetroCorp Bancshares, Inc. (NASDAQ GS: MCBI)?
- Did you purchase any of your shares prior to September 18, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of MetroCorp Bancshares, Inc. ("MetroCorp" or the "Company") (NASDAQ GS: MCBI) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by East West Bancorp, Inc. ("East West") (NASDAQ GS: EWBC) in a transaction valued at approximately $273 million.
Click here to learn more: http://rigrodskylong.com/investigations/metrocorp-bancshares-inc-mcbi.
Under the terms of the agreement, public shareholders of MetroCorp will receive the lesser of $14.60 per share in cash and 1.72 times the per share tangible equity for each share of MetroCorp they own.
The investigation concerns whether MetroCorp's board of directors failed to adequately shop the Company and obtain the best possible value for MetroCorp's shareholders before entering into an agreement with East West.
If you own the common stock of MetroCorp and purchased your shares before September 18, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Gina Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/metrocorp-bancshares-inc-mcbi.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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SOURCE Rigrodsky & Long, P.A.