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 Yadkin Financial Corporation (NYSE: YDKN) (“Yadkin
Financial” or the “Company”) relating to the proposed buyout of Yadkin
Financial by F.N.B. Corporation (“FNB”).
The firm’s investigation seeks to determine, among other things, whether
the Company’s Board of Directors failed to satisfy their duties to
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.
Under the terms of the agreement, Yadkin Financial shareholders are
anticipated to receive 2.16 shares of FNB common stock for each share of
Yadkin Financial common stock held, representing an approximate value of
$27.35 per share. The transaction may undervalue the Company and
would result in no real gain or a loss for many shareholders of Yadkin
Financial, especially given that the Company’s 52-week high is $28.23.
If you currently own common stock of Yadkin Financial and believe that
the proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160726006557/en/
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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