NEW YORK, Oct. 23, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Annapolis Bancorp Inc. ("Annapolis" or the "Company") (NasdaqCM: ANNB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to F.N.B. Corp. ("F.N.B.") (NYSE: FNB).
Click here to learn more about the investigation: http://zlk.9nl.com/annapolis-bancorp-annb , or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Annapolis shareholders will receive 1.143 of an F.N.B. share for each share of Annapolis stock they own, representing a value of approximately $12.21 per Annapolis share. Contingent upon the resolution of a credit matter, Annapolis shareholders may also receive up to an additional $0.36 per share in cash. The transaction has a total approximate value of $49 million. The investigation concerns whether the Annapolis Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether F.N.B. is underpaying for Annapolis shares, thus unlawfully harming Annapolis stockholders.If you own common stock in Annapolis and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/annapolis-bancorp-annb . Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP