Business & Finance
Business and Finance
Business and Finance
Thu, June 23, 2011
Wed, June 22, 2011 The Law Office of Abe Shainberg Announces Investigation of Tower Bancorp, Inc.
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Tower Bancorp, Inc. (NASDAQ: TOBC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Susquehanna Bancshares, Inc. (NASDAQ: SUSQ). Under the terms of the proposed transaction, Tower shareholders may elect to receive either 3.4696 shares of Susquehanna common stock or $28.00 in cash per share for a total transaction value of approximately $343 million.
The investigation concerns whether the Tower Board of Directors breached their fiduciary duties to Tower stockholders by failing to adequately shop the Company before entering into this transaction and whether Susquehanna Bancshares, Inc. is underpaying for Tower shares.
If you own common stock in Tower and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/tower-bancorp.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
