Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of First Keystone Financial, Inc. - FKFS
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Wed, 04 Nov 2009 21:46:27 GMT |
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Levi & Korsinsky, LLP
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NEW YORK - (Business Wire) Levi & Korsinsky is investigating the Board of Directors of First Keystone Financial, Inc. (“First Keystone” or the “Company”) (NasdaqGM: FKFS) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Bryn Mawr Bank Corp. ("Bryn Mawr") (NasdaqGS: BMTC). Under the terms of the transaction, First Keystone shareholders will receive a combination of 0.6973 shares of Bryn Mawr common stock plus $2.06 in cash for each share of Company common stock that they own, subject to possible adjustment. The transaction values First Financial shares at $13.75, based on Bryn Mawr's share price over the twenty trading days ended October 30, 2009. The investigation concerns whether First Keystone's Board of Directors have breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Bryn Mawr is underpaying for First Keystone's shares, thus unlawfully harming First Keystone's stockholders. If you own common stock in First Keystone and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/fkfs1.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
212-363-7500
Fax: 212-363-7171
www.zlk.com
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