The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Virginia Commerce Bancorp, Inc. (“Virginia Commerce” or the “Company”) (Nasdaq: “VCBI”) and other violations of state law by the board of directors of Virginia Commerce relating to the proposed acquisition of the Company by United Bankshares, Inc. (“United”). The firm’s investigation seeks to determine, among other things, whether the board of directors of Virginia Commerce breached their fiduciary duties by failing to maximize shareholder value.
Under the terms of the proposed transaction, United will acquire 100% of the outstanding shares of Virginia Commerce in exchange for common shares of United. According to the press release announcing the transaction, the exchange ratio will be fixed at 0.5442 of United’s shares for each share of Virginia Commerce, which equates to a deal value of $14.00 per share. The transaction is currently being valued at approximately $490.6 million.
If you currently own common stock of Virginia Commerce and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.