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Do you own shares of Firstbank Corporation (NASDAQ GS: FBMI)?
Did you purchase any of your shares prior to August 15, 2013?
Do you think the proposed buyout price is too low?
Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Firstbank Corporation (“Firstbank” or the “Company”) (NASDAQ GS:
FBMI) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Mercantile Bank Corporation (“Mercantile”) (NASDAQ GS:
MBWM) in a transaction valued at approximately $151.5 million.
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Under the terms of the proposal, public shareholders of Firstbank will receive 1.00 share of Mercantile common stock for each share of Firstbank they own. Based upon Mercantile’s closing stock price on August 14, 2013, Firstbank shareholders would have received consideration valued at approximately $18.77 per share.
The investigation concerns whether Firstbank’s board of directors failed to adequately shop the Company and obtain the best possible value for Firstbank’s shareholders before entering into an agreement with Mercantile.
If you own the common stock of Firstbank and purchased your shares before August 15, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Shaye Fuchs at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to
firstname.lastname@example.org, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.