WILMINGTON, Del., March 16, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Bridge Capital Holdings ("Bridge Capital" or the "Company") relating to the sale of the Company to Western Alliance Bancorporation ("Western Alliance"). On March 9, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which Western Alliance will acquire Bridge Capital in a merger worth $425 million. As a result of the merger, Bridge Capital shareholders are only anticipated to receive $2.39 per share in cash and 0.8145 shares of Western Alliance in exchange for each share of Bridge Capital.
Andrews & Springer's investigation focuses on the inadequate consideration that Bridge Capital shareholders are expected to receive. While the deal is advertised as offering a premium for Bridge Capital shareholders, investment analysts have stated otherwise. Tellingly, analysts at D.A. Davidson & Co. have set a $28.50 per share price target for Bridge Capital. This price target is roughly 7.22% more than what Bridge Capital shareholder are expected to receive.
Andrews & Springer is investigating whether Bridge Capital directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by Bridge Capital's financial advisor, Sandler O'Neill + Partners, L.P.
If you own shares of Bridge Capital and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/BBNK or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.