Wilmington Trust Corporation Merger Litigation (NYSE: WL)
Law Office of Brodsky & Smith, LLC Announces Investigation of Wilmington Trust Corporation
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors Wilmington Trust Corporation (“Wilmington Trust”) or the “Company”) (NYSE: WL – News) relating to the proposed acquisition by M&T Bank Corporation (“M&T”).
Under the terms of the transaction, Wilmington Trust shareholders would receive 0.051372 shares of M&T stock for each share of Wilmington Trust stock they own. The transaction values Wilmington Trust shares at approximately $3.84 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that Wilmington Trust stock traded at $7.11 as recently as recently as October 29, 2010 and an analyst set a price target for Wilmington Trust at $13.00 per share. Thus, shareholders need additional information to know if M&T is underpaying for the company.
If you own shares of Wilmington Trust and wish to discuss the legal ramifications of the proposed transaction, 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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