SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into
Possible Breaches of Fiduciary Duty by the Board of Atlantic Coast Financial
in Connection with the Sale of the Company to Bond Street Holdings, Inc.
NEW YORK -- February 27, 2013
Levi & Korsinsky is investigating the Board of Directors of Atlantic Coast
Financial (“Atlantic Coast” or the “Company”) (Nasdaq: ACFC) for possible
breaches of fiduciary duty and other violations of state law in connection
with the sale of the Company to Bond Street Holdings, Inc.
Click here to learn how to join the action:
http://zlk.9nl.com/atlantic-coast-financial-acfc/, or call: 877-363-5972.
There is no cost or obligation to you.
Under the terms of the transaction, Atlantic Coast shareholders will receive
$5.00 for each share of Atlantic Coast stock they own; of that $5.00
consideration, $2.00 will be held in an escrow account and will be available
to cover losses from stockholder claims for one year or until the final
resolution of such claims, if later. The investigation concerns whether the
Atlantic Coast Board of Directors breached their fiduciary duties to Atlantic
Coast stockholders by failing to adequately shop the Company before entering
into this transaction and whether Bond Street Holdings, Inc. is underpaying
for Atlantic Coast shares, thus unlawfully harming Atlantic Coast
stockholders. In particular, Atlantic Coast has a reported a book value of
$16.96 per share for the most recent quarter.
If you own common stock in Atlantic Coast 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
Levi & Korsinsky is a national firm with offices in New York, New Jersey, 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
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