BALA CYNWYD, Pa. -- (Business Wire)
Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Franklin Financial
Corporation (“Franklin Financial” or the “Company”) (Nasdaq: FRNK)
relating to the proposed acquisition by TowneBank.
Click here to learn more about the investigation http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Franklin Financial shareholders will
receive only 1.40 shares of TowneBank stock for each share of Franklin
Financial stock they own. The transaction represents a value of only
approximately $23.04 per share. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Franklin for not acting in the Company’s
shareholders' best interests in connection with the sale process.
The transaction may undervalue the Company and represents no real
premium for many Franklin Financial shareholders. For example, Franklin
Financial recently traded at $23.42 on July 1, 2014. In addition the
transaction appears to be a capital raise for TowneBank due to Franklin
Financial’s strong capital base. As of March 31, 2014, Franklin
Financial had total deposits of $671 million and net loans of $555
million. The Company’s capital ratios are among the strongest in the
nation.
If you own shares of Franklin Financial common stock and wish to discuss
the legal ramifications of the investigation, or have any questions, you
may e-mail or call the law office of Brodsky & Smith, LLC who will,
without obligation or cost to you, attempt to answer your questions. You
may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at
Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004,
by e-mail at investorrelations@brodsky-smith.com,
by visiting http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise
representing shareholders throughout the nation in securities and case
action lawsuits. The attorneys at Brodsky & Smith have been appointed by
numerous courts throughout the country to serve as lead counsel in class
actions and successfully recovered millions of dollars for our clients
and shareholders. Attorney advertising. Prior results do not guarantee a
similar outcome.
Contacts:
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J.
Smith, Esquire
877-LEGAL-90
investorrelations@brodsky-smith.com
http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html
Source: Brodsky & Smith, LLC
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