Rigrodsky & Long, P.A. Announces Investigation Of Firstbank Corporation
WILMINGTON, Del. -- August 19, 2013
Rigrodsky & Long, P.A.:
*Do you own shares of Firstbank Corporation (NASDAQ GS: FBMI)?
*Did you purchase any of your shares prior to August 15, 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 Firstbank Corporation (“Firstbank” or
the “Company”) (NASDAQ GS: FBMI) regarding possible breaches of fiduciary
duties and other violations of law related to the Company’s entry into an
agreement to be acquired by Mercantile Bank Corporation (“Mercantile”) (NASDAQ
GS: MBWM) in a transaction valued at approximately $151.5 million.
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Under the terms of the proposal, public shareholders of Firstbank will receive
1.00 share of Mercantile common stock for each share of Firstbank they own.
Based upon Mercantile’s closing stock price on August 14, 2013, Firstbank
shareholders would have received consideration valued at approximately $18.77
The investigation concerns whether Firstbank’s board of directors failed to
adequately shop the Company and obtain the best possible value for Firstbank’s
shareholders before entering into an agreement with Mercantile.
If you own the common stock of Firstbank and purchased your shares before
August 15, 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 Seth Rigrodsky or Shaye Fuchs at Rigrodsky & Long,
P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by
telephone at (888) 969-4242; by e-mail to email@example.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.
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