NEW YORK, Nov. 12, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Susquehanna Bancshares, Inc. (NASDAQ: SUSQ) ("Susquehanna" or the "Company") on behalf of its shareholders. BB&T Corporation and Susquehanna announced that they have entered into a definitive agreement under which BB&T will acquire Susquehanna for cash and BB&T shares. Under the terms of the agreement, Susquehanna shareholders will receive $4.05 in cash and 0.253 BB&T shares for each Susquehanna share they own. The merger consideration is valued at $13.50 per share.
The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors and senior management of Susquehanna for not acting in Susquehanna shareholders' best interests in connection with the sale process of Susquehanna. The investigation seeks to determine if there was an adequate auction process and if BB&T is underpaying for Susquehanna shares. Indeed, the book value alone of Susquehanna is well in excess of the merger consideration ($15.17 per share). The investigation further concerns whether the senior management of Susquehanna may have acted in their own self-interests in selling the company to BB&T.
If you are a shareholder of Susquehanna and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please call us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliate, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading Plaintiff Firms in America." Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC