The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Encore Bancshares, Inc. In Connection With The Sale Of The Company To Cadence Bancorp, LLC
NEW YORK, March 9, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Encore Bancshares, Inc. ("Encore" or the "Company") (Nasdaq: EBTX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Cadence Bancorp, LLC. Under the terms of the agreement, Encore shareholders will receive $20.62 for each share of Encore stock they own. The transaction has a total approximate value of $250 million. Click here to learn how to join the action: http://www.zlk.com/encore-bancshares-ebtx, or call: 877-363-5972. There is no cost or obligation to you. The investigation concerns whether the Encore Board of Directors breached their fiduciary duties to Encore stockholders by failing to adequately shop the Company before entering into this transaction and whether Cadence Bancorp, LLC is underpaying for Encore shares, thus unlawfully harming Encore stockholders. If you own common stock in Encore and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, http://www.zlk.com. Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. 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) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP
Shares of Encore (Nasdaq:EBTX) have taken a tremendous swing upward. The stock is trading at $20.29 as of 9:50 a.m. ET, 36.1% above Monday's closing price of $14.91. Volume is at 21,672, 1.5 times the daily average of 14,400.