STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Integrity Bancshares, Inc. (“Integrity” or the “Company”)
(OTC BB: ITBC) relating to the proposed buyout of the Company by S&T
Bancorp, Inc. (“S&T”).
On October 30, 2014, Integrity and S&T announced the signing of a
definitive merger agreement pursuant to which S&T will acquire Integrity
in a transaction valued at approximately $155 million.
Under the terms of the transaction, shareholders of Integrity will have
the opportunity to elect to receive $52.50 per share in cash or 2.0627
shares of S&T common stock for each share of Integrity they own. The
transaction is expected to close in the first quarter of 2015, though
Integrity shareholders will most likely be asked to vote on the
transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether
Integrity’s Board of Directors failed to satisfy their duties to the
Company’s shareholders, including whether the board adequately pursued
alternatives to the acquisition and whether the board obtained the best
price possible for the Company’s shares of common stock.
If you currently own common stock of Integrity and would like to learn
more about the investigation being conducted by Brower Piven, without
cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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