Business & Finance
Business and Finance
Business and Finance
Fri, July 29, 2011
Thu, July 28, 2011 The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Alliance Bankshares Corporation
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Alliance Bankshares Corporation (aAlliancea or the aCompanya) (NASDAQ: ABVA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Eagle Bancorp Inc. (NASDAQ: EGBN). Under the terms of the transaction, Alliance shareholders will receive 0.4317 shares of Eagle Bancorp stock for each share of Alliance stock they own, representing a value of $6.11 per share. The transaction has a total value of approximately $31.2 million.
Click here to learn how to join the action: [ http://www.zlk.com/alliance-bankshares-corporation-abva ], or call: 877-363-5972.
The investigation concerns whether the Alliance Board of Directors breached their fiduciary duties to v stockholders by failing to adequately shop the Company before entering into this transaction and whether Eagle Bancorp. is underpaying for Alliance shares, thus unlawfully harming Alliance stockholders. In particular, at least one analyst set a price target for Alliance stock at of $19.00 per share and Alliance stock traded as high as $6.98 per share as recently as May 16, 2011.
If you own common stock in Alliance and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or [ http://www.zlk.com ].
Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
