The Bank of Kentucky Financial Corporation Acquisition By BB&T Corporation May Not Be In The Best Interests of BKYF Shareholders

NEW YORK, Sept. 10, 2014 /PRNewswire/ -- The fairness of the proposed acquisition of The Bank of Kentucky Financial Corporation ("BKYF" or the "Company") by BB&T Corporation ("BB&T") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm.  The examination focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of BKYF for agreeing to sell the Company to BB&T.  On September 8, 2014, the companies jointly announced they had reached a definitive agreement for BB&T to acquire all outstanding shares of BKYF in a cash and stock transaction valued at approximately $363 million.  Under the terms of the agreement, BKYF shareholders will receive $9.40 cash and 1.0126 shares of BB&T common stock for each BKYF share they own.

WeissLaw is investigating whether BKYF's Board acted to maximize shareholder value prior to entering into the agreement with BB&T.  Notably, the Company recently announced its second quarter financial results, reporting a 13% increase in net income year over year. 

Given these facts, WeissLaw is investigating the Board of Directors' decision to sell BKYF and whether the Board of Directors acted in the best interests of BKYF's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with BB&T.  If you own BKYF shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at [email protected]. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.

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WeissLaw LLP
Joshua Rubin
Kelly Keenan
1500 Broadway, 16^th Floor
New York, NY  10036
T:  212.682.3025
F:  212.682.3010
www.weisslawllp.com
[email protected]

SOURCE WeissLaw LLP