WAYNE, Pa., Aug. 16, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/fbmi) is investigating potential claims against the board of directors of Firstbank Corporation ("Firstbank" or the "Company") (NASDAQ: FBMI) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to Mercantile Bank Corporation ("Mercantile") in a transaction valued at approximately $151.5 million.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Firstbank for not acting in the Company's shareholders' best interests in connection with the sale process. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/fbmi.
Under the terms of the proposal, public shareholders of Firstbank will receive 1.00 share of Mercantile common stock for each share of Firstbank they own. Based upon Mercantile's closing stock price on August 14, 2013, Firstbank shareholders would have received consideration valued at approximately $18.77 per share.
If you own shares of Firstbank would like to learn more about these claims 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/fbmi. You may also email Mr. Maniskas at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
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.
SOURCE Ryan & Maniskas, LLP