First Keystone Financial Merger Litigation (Nasdaq: FKFS)
Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders First Keystone Financial, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of First Keystone Financial, Inc. (“First Keystone” or the “Company”) (Nasdaq: FKFS – News) relating to the proposed merger with Bryn Mawr Bank Corp. (“Bryn Mawr”) (Nasdaq: BMTC- News).
Under the proposed agreement, First Keystone shareholders will receive a combination of 0.6973 shares of Bryn Mawr common stock plus $2.06 in cash for each share of First Keystone common stock they own, subject to possible adjustments.
The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the First Keystone Board’s approval of the proposed acquisition. The merger agreement prevents, except under certain exceptions, the board from soliciting alternative proposals, entering into discussions with other potential buyers, providing confidential information to other buyers, and contains a $1.675 million termination fee. This prevents other buyers from making offers for the company that may have resulted in increased compensation for the shareholders.
If you own shares of First Keystone and wish to discuss the legal ramifications of the proposed acquisition, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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