NEW YORK, July 24, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Old Line Bancshares, Inc. ("OLBK" or the "Company") (OLBK) in connection with the proposed acquisition of the Company by WesBanco, Inc. ("WesBanco") (WSBC). Under the terms of the agreement, OLBK shareholders will receive 0.7844 shares of WesBanco for each OLBK share they own, representing consideration of $26.90 based on WesBanco's July 24 opening price.
If you own OLBK shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether OLBK's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, the per-share consideration is $8.29 less than the Company's 52-week high of $35.19.
In addition, according to WesBanco's President and CEO, "[t]he merger with [OLBK] is an example of the continued solid execution on our long-term growth strategies, as it brings together two high-quality institutions with disciplined risk cultures and a strong customer focus." Moreover, the transaction is anticipated to be 4.3% accretive to earnings in 2020 and 6.2% accretive to earnings in 2021.
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances OLBK's shareholder value. Specifically, WeissLaw is concerned whether OLBK's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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