NEW YORK, May 22, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MB Financial, Inc. ("MBFI" or the "Company") (NASDAQ: MBFI) in connection with the proposed acquisition of the Company by Fifth Third Bancorp ("FITB") (NASDAQ: FITB). On May 21, 2018, the Company announced a definitive agreement under which FITB will acquire all outstanding shares of MBFI in a transaction valued at approximately $4.7 billion. The deal offers MBFI shareholders $5.54 in cash and 1.45 shares of FITB common stock in exchange for each MBFI share they own, representing consideration of $50.54 per MBFI share, based on FITB's May 22 trading price of $31.04.
WeissLaw is investigating whether MBFI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, MFBI announced double digit growth in its most recent financial statements, reporting an impressive 21.1% period-over-period increase in operating earnings.
Given these facts, WeissLaw is investigating whether MBFI's Board acted in the best interests of MBFI's public shareholders to maximize shareholder value prior to entering into the agreement. If you own MBFI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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@example.com or fill out the form on our website, http://www.weisslawllp.com/mb-financial-inc/
SOURCE WeissLaw LLP