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Rigrodsky & Long, P.A. Announces Investigation of Tower Bancorp, Inc.

^{Published on 2011-09-28 09:27:36 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Tower Bancorp, Inc. (aTower Bancorpa or the aCompanya) (Nasdaq: [ TOBC ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Susquehanna Bancshares, Inc. (aSusquehannaa) in a transaction with an approximate value of $343 million.

Click here to learn more and how to join the action: [ http://investigations.rigrodskylong.com/towerbancorpinc-tobc/ ].

Under the proposed agreement, Tower Bancorp shareholders will have the option of receiving either 3.4696 shares of Susquehanna common stock or $28.00 in cash for each share of Tower Bancorp common stock they own, with $88 million of the aggregate consideration being paid in cash.

The investigation concerns whether Tower Bancorpa™s board of directors adequately shopped the Company to obtain the best price possible for Tower Bancorpa™s shareholders before entering into the agreement with Susquehanna. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $31.50 per share for Tower Bancorp stock.

If you own the common stock of Tower Bancorp and purchased your shares before June 20, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

[ Rigrodsky & Long, P.A. ], with offices in Wilmington, Delaware and Garden City, New York, regularly litigates [ securities class, derivative and direct actions, shareholder rights litigation ] and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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