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STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Peoples Bancorporation, Inc. (aPeoples Bancorporationa) (OTB BB: PBCE) and other violations of state law by the board of directors of Peoples Bancorporation relating to the proposed acquisition of the company by SCBT Financial Corporation (aSCBTa) (NASDAQ: SCBT). The firm's investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.

On December 20, 2011, Peoples Bancorporation and SCBT jointly announced the signing of a definitive merger agreement. According to the announcement, Peoples Bancorporation shareholders will receive 0.1413 shares of SCBT common stock for each Peoples Bancorporation share they own. According to the press release, the transaction has an approximate value of $28.4 million.

If you currently own shares of Peoples Bancorporation and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.