NEW YORK, July 18, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Franklin Financial Corporation ("Franklin" or "the Company") (Nasdaq: FRNK) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to TowneBank (NasdaqGS: TOWN).
Click here to learn more about the investigation: http://zlk.9nl.com/franklin-financial-frnk , or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Franklin shareholders will receive 1.40 shares of TowneBank stock for each share of Franklin they own, representing a value of $23.04 per share. The investigation concerns whether the Board of Franklin breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether TowneBank is underpaying for Franklin shares. In particular, at least one analyst set a price target for Franklin stock at $24.00 per share.
If you own Franklin common stock 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/franklin-financial-frnk .Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have 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. Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (866) 367-6510 www.zlk.com Logo - http://photos.prnewswire.com/prnh/20120409/MM84375LOGO SOURCE Levi & Korsinsky, LLP