Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Thursday, August 20, 2015
Faruqi & Faruqi Investigation: National Penn Bancshares, Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of National Penn Bancshares Inc. (“National Penn” or the “Company”) (NasdaqGS:NPBC) for potential breaches of fiduciary duties in connection with the sale of the Company to BB&T Corporation for approximately $1.8 billion.
The Company’s stockholders may elect to receive 0.3206 of a share of BB&T common stock or $13.00 in cash for each share of Company common stock they own. However, the offer represents a negligible premium over the Company’s opening price per share of $12.53 on August 20, 2015 and the stock is expected to continue climbing.
The investigation focuses on whether National Penn’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of National Penn’s shareholders.
If you own common stock in National Penn and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F'sJuan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.