Fidelity Bancorp, Inc. : Fidelity Bancorp Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Merger of Fidelity Bancorp, Inc. into WesBanco, Inc.
07/20/2012| 12:50pm US/Eastern
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Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating the merger of Fidelity
Bancorp, Inc. ("Fidelity" or "FSBI") (NASDAQ: FSBI) into WesBanco,
Inc. for shareholders. Under the proposed transaction, Fidelity/FSBI
shareholders will only receive 0.8275 shares of WesBanco common stock
and cash in the amount of $4.50 for each share of Fidelity stock owned.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, 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, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
Under the terms of the definitive agreement and Plan of Merger, WesBanco
will exchange a combination of common stock and cash for Fidelity common
stock. The transaction is valued at approximately $70.8 million and is
expected to close late in the fourth quarter of 2012 or early 2013.
The investigation centers on whether Fidelity shareholders are receiving
adequate compensation for their shares in the buyout, whether the
transaction undervalues Fidelity stock, and whether Fidelity's board
attempted to obtain the highest share price for all shareholders prior
to agreeing to the deal. "Due to the lack of a significant premium to
the shareholders and other factors, we believe that the transaction may
undervalue Fidelity stock. Our lawsuit will seek to obtain the highest
share price for all shareholders," said shareholder rights attorney
Willie Briscoe.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
© Business Wire 2012
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