STEVENSON, Md.--(BUSINESS WIRE)--
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of LSB Financial Corp. (“LSB Financial” or the “Company”) (LSBI) and other violations of state law by the board of directors of LSB Financial relating to the proposed buyout of the Company by Old National Bancorp (“Old National”), in a transaction valued at approximately $66.7 million.
Under the terms of the transaction, public shareholders of LSB Financial would receive 2.269 shares of Old National common stock and $10.63 in cash for each share of LSB Financial they own. Based on Old National’s closing stock price on June 3, 2014, LSB Financial shareholders would have received consideration valued at approximately $41.67 per share. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Old National is underpaying for LSB Financial shares.
If you currently own common stock of LSB Financial and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153