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.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Baylake Corp. (“Baylake” or the “Company”) (NASDAQ: BYLK) for potential breaches of fiduciary duties in connection with the sale of the Company to Nicolet Bankshares, Inc. for approximately $141 million.
The Company’s stockholders will only receive 0.4517 shares of Nicolet common stock for each share of Baylake common stock held plus a cash dividend of $0.40 per share, or approximately $15.36. However, the offer has virtually no premium according to at least one analyst target price of $15.00 per share.