NEW YORK, Aug. 20, 2015 /PRNewswire/ -- The fairness of the
proposed acquisition of National Penn Bancshares, Inc. ("NPBC" or
the "Company") by BB&T Corporation ("BB&T") is the subject
of an investigation by WeissLaw LLP, a national class action,
shareholder rights law firm. The investigation focuses on
possible breaches of fiduciary duty and other violations of law by
the Board of Directors of NPBC. On August 17, 2015, the Company announced it had
reached a definitive agreement for BB&T to acquire NPBC in a
cash-and-stock transaction valued at approximately $1.8 billion. Under the terms of the
agreement, NPBC shareholders can elect to receive $13.00 in cash or 0.3206 of a BB&T common
share for each NPBC share they own.
WeissLaw is investigating whether NPBC's Board acted to maximize
shareholder value. Notably, the offer price represents a mere
11% premium over the Company's recent trading price of
11.66.
Given these facts, WeissLaw is investigating the Board's
decision to sell NPBC and whether NPBC shareholders will obtain
their fair and proportionate share of the Company's continued
success and future growth prospects. If you own NPBC shares
and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP