MILWAUKEE, Jan. 13, 2016 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of ABCW for possible breaches of fiduciary duty and other violations of state law in connection with the sale of ABCW to ONB.
Click here to learn how to join the action: http://www.ademilaw.com/case/anchor or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
ABCW long-term financial outlook is improving and yet ABCW shareholders will receive only 3.5505 shares of ONB common stock. ONB is well aware of ABCW’s improving financial metrics and is purchasing ABCW at a substantial discount. The merger agreement unreasonably limits competing bids for ABCW by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should ABCW receive and accept a superior bid. ABCW insiders, their affiliates and other major shareholders own significant voting stock, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of ABCW. Our investigation centers on the conduct of ABCW’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for ABCW given its current financial condition and prospects.
If you own stock in ABCW and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://www.ademilaw.com/case/anchor.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.