Press release from Business Wire
SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Citizens Republic Bancorp, Inc. in Connection with the Sale of the Company to FirstMerit Corporation
Friday, September 14, 2012
NEW YORK (Business Wire) -- Levi & Korsinsky is investigating the Board of Directors of Citizens Republic Bancorp, Inc. (“Citizens” or the “Company”) (Nasdaq: CRBC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to FirstMerit Corporation (Nasdaq: FMER).
Click here to learn more about the investigation: http://zlk.9nl.com/citizens-republic-bancorp-crbc, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Citizens shareholders will receive 1.37 shares of FirstMerit common stock for each share of Citizens stock they own, representing a value of approximately $22.50 per share. The transaction has a total approximate value of $912 million. The investigation concerns whether the Citizens Board of Directors breached their fiduciary duties to Citizens stockholders by failing to adequately shop the Company before entering into this transaction and whether FirstMerit Corporation is underpaying for Citizens shares, thus unlawfully harming Citizens stockholders. In particular, Citizens stock has a reported Book Value of $26.74 per share for the most recent quarter.
If you own common stock in Citizens and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/citizens-republic-bancorp-crbc.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972