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VIRGINIA COMMERCE BANK
Symbol U : VCBI
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Rigrodsky & Long, P.A. Announces Investigation Of Virginia Commerce Bancorp, Inc. Buyout

2013-01-31 17:36 ET - News Release


Company Website: http://www.rigrodskylong.com
WILMINGTON, Del. -- (Business Wire)

Rigrodsky & Long, P.A.:

  • Do you own shares of Virginia Commerce Bancorp, Inc. (NASDAQ GS: VCBI)?
  • Did you purchase any of your shares prior to January 30, 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 Virginia Commerce Bancorp, Inc. (“VCBI” or the “Company”) (NASDAQ GS: VCBI) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by United Bankshares, Inc. (“UBSI”) (NASDAQ GS: UBSI) in a transaction valued at approximately $491 million.

Click here to learn more: http://www.rigrodskylong.com/investigations/virginia-commerce-bancorp-inc-vcbi.

Under the terms of the proposal, public shareholders of VCBI will receive 0.5442 shares of UBSI for each share of VCBI they own. Based upon UBSI’s closing stock price of $25.14 on January 30, 2013, VCBI shareholders would have received consideration valued at approximately $13.68 per share.

The investigation concerns whether VCBI’s board of directors failed to adequately shop the Company and obtain the best possible value for VCBI’s shareholders before entering into an agreement with UBSI. According to Yahoo! Finance, at least one analyst has set a price target for VCBI stock at $14.00.

If you own the common stock of VCBI and purchased your shares before January 30, 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: http://www.rigrodskylong.com/investigations/virginia-commerce-bancorp-inc-vcbi.

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 States.

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

Contacts:

Rigrodsky & Long, P.A.
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rigrodskylong.com
http://www.rigrodskylong.com

Source: Rigrodsky & Long, P.A.

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