Glancy Binkow & Goldberg LLP Is Investigating Palmetto Bancshares, Inc. Board Of Directors

Glancy Binkow & Goldberg LLP is investigating potential claims against the Board of Directors of Palmetto Bancshares, Inc. ("Palmetto" or the "Company") (NASDAQ:PLMT) related to the proposed acquisition of the Company by United Community Banks, Inc. The transaction is valued at approximately $240.5 million. The Company's shareholders will receive $19.25 per share in cash for each share of Palmetto common stock.

This investigation concerns whether the Board of Directors of Palmetto breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.

If you are a shareholder of Palmetto, if you have information or would like to learn more about our investigation, or if you wish to discuss your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Copyright Business Wire 2010

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