Rigrodsky & Long, P.A. Announces Investigation Of Atlantic Coast Financial Corporation Buyout

  Rigrodsky & Long, P.A. Announces Investigation Of Atlantic Coast Financial
  Corporation Buyout

Business Wire

WILMINGTON, Del. -- February 26, 2013

Rigrodsky & Long, P.A.:

  *Do you own shares of Atlantic Coast Financial Corporation (NASDAQ GM:
  *Did you purchase any of your shares prior to February 26, 2013?
  *Do you think the proposed buyout price is too low?
  *Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal
claims against the board of directors of Atlantic Coast Financial Corporation
(“ACFC” or the “Company”) (NASDAQ GM: ACFC) regarding possible breaches of
fiduciary duties and other violations of law related to the Company’s entry
into an agreement to be acquired by Bond Street Holdings, Inc. (“Bond

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Under the terms of the proposal, public shareholders of ACFC will receive
$5.00 per share in cash for each share of ACFC they own. Of the total
transaction price of $5.00, $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 ACFC’s board of directors failed to
adequately shop the Company and obtain the best possible value for ACFC’s
shareholders before entering into an agreement with Bond Street.

If you own the common stock of ACFC and purchased your shares before February
26, 2013, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242,
by e-mail to info@rigrodskylong.com, or at:

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City,
New York, regularly prosecutes securities class, derivative and direct
actions, shareholder rights litigation and corporate governance litigation, on
behalf of shareholders in states and federal courts throughout the United

Attorney advertising. Prior results do not guarantee a similar outcome.


Rigrodsky & Long, P.A.
Peter Allocco
Fax: 302-654-7530
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