The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of PVF Capital Corp. (Nasdaq: “PVFC”), the parent of Park View Federal Savings Bank, and other violations of state law by the board of directors of PVF Capital Corp. relating to the proposed acquisition of the company by F.N.B. Corporation (“FNB”). The firm’s investigation seeks to determine, among other things, whether the board of directors of PVF Capital Corp. breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed buyout, FNB will acquire PVF Capital Corp. in an all stock transaction valued at approximately $3.98 per share, or $106.4 million in the aggregate using the 20-day trailing stock price of FNB as of Friday, February 15, 2013. Under the terms of the merger agreement, PVF Capital Corp. shareholders will be entitled to receive 0.3405 shares of FNB common stock for each common share of PVF Capital Corp. they own. According to Yahoo! Finance, at least one analyst has set a price target of $15.77 for each PVF Capital Corp. share.
If you currently own common stock of PVF Capital Corp. 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.