STEVENSON, Md., Aug. 28, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
National Penn Bancshares, Inc. ("National Penn" or the "Company")
(NasdaqGS: NPBC) relating to the proposed buyout of the Company by
BB&T Corporation for approximately $1.8
billion.
Under the terms of the transaction, National Penn shareholders
may elect to receive 0.3206 of BB&T common stock ($12.48) or $13.00
in cash for each share of National Penn common stock they
own. The firm's investigation seeks to determine, among other
things, whether the Company's Board of Directors failed to satisfy
their duties to shareholders, including whether the Board
adequately pursued alternatives to the acquisition and whether the
Board obtained the best price possible for the Company's shares of
common stock.
If you currently own common stock of National Penn and believe
that the proposed buyout price is too low, or you would like to
learn more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven / Brower Piven, A
Professional Corporation
1925 Old Valley Road / Stevenson,
Maryland 21153
Telephone: 410-415-6616 / hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation