Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders First Keystone Financial, Inc.
05 Noviembre 2009 - 11:28AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
First Keystone Financial, Inc. (“First Keystone” or the “Company”)
(Nasdaq:FKFS) relating to the proposed merger with Bryn Mawr Bank
Corp. (“Bryn Mawr”) (Nasdaq:BMTC).
Under the proposed agreement, First Keystone shareholders will
receive a combination of 0.6973 shares of Bryn Mawr common stock
plus $2.06 in cash for each share of First Keystone common stock
they own, subject to possible adjustments. The investigation
concerns possible breaches of fiduciary duty and other violations
of state law related to the First Keystone Board’s approval of the
proposed acquisition. The merger agreement prevents, except under
certain exceptions, the board from soliciting alternative
proposals, entering into discussions with other potential buyers,
providing confidential information to other buyers, and contains a
$1.675 million termination fee. This prevents other buyers from
making offers for the company that may have resulted in increased
compensation for the shareholders.
If you own shares of First Keystone and wish to discuss the
legal ramifications of the proposed acquisition, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
clients@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
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