Company Website: http://www.powerstaylor.com
DALLAS -- (Business Wire)

Former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation law firm of Powers Taylor, LLP are jointly investigating possible potential breaches of fiduciary duty and other legal claims against the Board of Directors of Tower Bancorp, Inc. (“Tower Bancorp” or “TOBC”) (NASDAQ: TOBC) related to the acquisition of Tower Bancorp by Susquehanna Bancshares, Inc. (NASDAQ: SUSQ).

According to the definitive acquisition agreement announced by the companies, Tower Bancorp shareholders will be able to elect to receive either a fixed ratio of 3.4696 shares of Susquehanna common stock or $28.00 in cash for each share of Tower Bancorp/TOBC common stock they hold. The transaction is valued at approximately $343 million, and the deal is expected to close in the first quarter of 2012.

The firms are investigating the fairness of the proposed transaction to Tower Bancorp shareholders, whether the shareholders are being underpaid for their stock, and whether Tower Bancorp’s Board of Directors acted in the shareholders’ best interests. The firms are also investigating whether Tower Bancorp’s Board of Directors adequately considered all viable alternatives and properly shopped the company before entering into the agreement.

If you currently own shares of Tower Bancorp/TOBC and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Contacts:

Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 877-397-5991
WBriscoe@TheBriscoeLawFirm.com

Source: Powers Taylor, LLP