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Law Office of Brodsky & Smith, LLC Announces Investigation of Alliance Bankshares Corporation

^{Published on 2011-07-28 12:46:25 - Market Wire}
 

BALA CYNWYD, Pa.--([ BUSINESS WIRE ])--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Alliance Bankshares Corporation (aAlliancea or the aCompanya) (Nasdaq: ABVA) relating to the proposed acquisition by Eagle Bancorp, Inc (Nasdaq: EGBN) (aEaglea).

Under the terms of the transaction Alliance shareholders would receive 0.4317 shares of Eagle stock for each share Alliance stock they own. The transaction values Alliance stock at approximately $6.11 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Alliance for not acting in the Companya™s shareholders' best interests in connection with the sale process to Eagle. The transaction may undervalue Alliance as stock traded at $6.65 as recently as April 29, 2011 and an analyst has set a price target of $19.00 per share.

If you own shares of Alliance stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ], visiting [ http://brodsky-smith.com/321-abva-alliance-bankshares-corporation.html ], or by calling toll free 877-LEGAL-90.