MILWAUKEE, Oct. 25, 2022 /PRNewswire/ -- Ademi LLP is investigating Limestone (NASDAQ: LMST) for possible breaches of fiduciary duty and other violations of law in its transaction with Peoples Bancorp.
Click here to learn how to join the action https://www.ademilaw.com/case/limestone-bancorp-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Limestone's financial outlook and prospects are excellent and yet Limestone holders will receive only 0.90 shares of Peoples common stock for each share of Limestone common stock. Based on Peoples Bancorp's closing price of $30.28 per share as of October 21, 2022, the aggregate deal value is approximately $208.2 million, or $27.25 per share. The transaction agreement unreasonably limits competing bids for Limestone by imposing a significant penalty if Limestone accepts a superior bid. Limestone insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Limestone's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Limestone.
If you own Limestone common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/limestone-bancorp-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
SOURCE Ademi LLP
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