BALA CYNWYD, Pa., Jan. 26, 2016 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of FirstMerit ("FirstMerit" or "the Company") (Nasdaq- FMER-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Huntington Bancshares Inc. ("Huntington").
Click here to learn more about the investigation http://brodsky-smith.com/1026-fmer-firstmerit-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, FirstMerit shareholders will receive only $5.00 in cash and 1.72 shares of Huntington common stock for each share of FirstMerit stock they own. The transaction values FirstMerit at only approximately $20.14 per share. The investigation concerns whether the Board of FirstMerit breached their fiduciary duties to shareholders and whether Huntington is underpaying for the Company. The transaction may undervalue the Company and would result in no real gain for many FirstMerit shareholders. For example, FirstMerit's stock traded at $21.45 per share as recently as June 26, 2015 and a analyst has set a $22.86 per share price target for FirstMerit stock.
If you own shares of FirstMerit and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC