Law Firm Brower Piven Announces Investigation of StellarOne Corporation Proposed Buyout
Law Firm Brower Piven Announces Investigation of StellarOne Corporation Proposed Buyout
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of StellarOne Corporation ("StellarOne" or the "Company") (NAS: STEL) and other violations of state law by the board of directors of StellarOne relating to the proposed buyout of the Company by Union First Market Bankshares Corporation ("Union"). The firm's investigation seeks to determine, among other things, whether the board of directors of StellarOne breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed buyout, StellarOne shareholders will receive 0.9739 shares of Union common stock for each share of StellarOne common stock they own. This implies a deal value of $19.50 per share of StellarOne common stock, based on Union's closing stock price of $20.02 per share on June 7, 2013.
If you currently own common stock of StellarOne and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com
KEYWORDS: United States North America Maryland
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