Business & Finance
Business and Finance
Business and Finance
Tue, August 2, 2011
Mon, August 1, 2011 The Law Office of Abe Shainberg Announces Investigation of Alliance Bankshares Corporation
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Alliance Bankshares Corporation (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 proposed transaction, Alliance shareholders will receive 0.4317 shares of Eagle Bancorp stock per Alliance share. The transaction implies a share value of $6.11 and a total transaction of approximately $31.2 million.
To get more information, click here: [ http://www.ashainberglaw.com/alliance-bankshares-corp.html ].
The investigation concerns whether the Alliance Board of Directors breached their fiduciary duties to Alliance stockholders by failing to adequately shop the Company before entering into this transaction and whether Eagle Bancorp is underpaying for Alliance shares. According to Yahoo! Finance, at least one analyst set a price target for Alliance stock at $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 Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/alliance-bankshares-corp.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.
