From the Wires
Law Office of Brodsky & Smith, LLC Announces Investigation of PVF Capital Corp.
By: PR Newswire
Feb. 25, 2013 10:31 PM
BALA CYNWYD, Pa., Feb. 25, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of PVF Capital Corp. ("PVF Capital" or the "Company") (Nasdaq- PVFC-News) relating to the proposed acquisition by F.N.B. Corporation ("FNB").
Under the terms of the transaction, PVF Capital shareholders will receive only 0.3405 of a FNB share of stock for each share of PVF Capital stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of PVF Capital for not acting in the Company's shareholders' best interests in connection with the sale process to FNB. The focus of the investigation is whether the PVF Capital Board of Directors breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction. The transaction may undervalue PVF Capital as FNB would receive PVF Capital's total deposits worth approximately $634 million and $600 million of gross loans. In addition, the deal would be immediately accretive to FNB's earnings (excluding one-time transaction costs of approximately $14.3 million) and tangible book value per share.
If you own shares of PVF Capital stock and wish to discuss the legal ramifications of the proposed transaction, 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 firstname.lastname@example.org visiting http://brodsky-smith.com/546-pvfc-pvf-capital-corp.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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