Law Firm Brower Piven Announces Investigation of Virginia Commerce Bancorp, Inc.

  Law Firm Brower Piven Announces Investigation of Virginia Commerce Bancorp,
  Inc.

Business Wire

STEVENSON, Md. -- January 31, 2013

The securities litigation firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary duty to
current shareholders of Virginia Commerce Bancorp, Inc. (“Virginia Commerce”
or the “Company”) (Nasdaq: “VCBI”) and other violations of state law by the
board of directors of Virginia Commerce relating to the proposed acquisition
of the Company by United Bankshares, Inc. (“United”). The firm’s investigation
seeks to determine, among other things, whether the board of directors of
Virginia Commerce breached their fiduciary duties by failing to maximize
shareholder value.

Under the terms of the proposed transaction, United will acquire 100% of the
outstanding shares of Virginia Commerce in exchange for common shares of
United. According to the press release announcing the transaction, the
exchange ratio will be fixed at 0.5442 of United’s shares for each share of
Virginia Commerce, which equates to a deal value of $14.00 per share. The
transaction is currently being valued at approximately $490.6 million.

If you currently own common stock of Virginia Commerce and would like to learn
more about the investigation being conducted by Brower Piven, you may email or
call Brower Piven, who will, without obligation or cost to you, attempt to
answer your questions. You may contact Brower Piven by email at
hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.

Contact:

Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com
 
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