NEW YORK, NY / ACCESSWIRE / October 19, 2018 / WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Access National Corporation (''ANCX'' or the ''Company'') (ANCX) in connection with the proposed acquisition of the Company by Union Bankshares Corporation (''UBSH''). Under the terms of the acquisition agreement, shareholders will receive 0.75 of UBSH share for each ANCX share they own, representing per-share consideration of $26.34 based on UBSH's October 19 opening price.
If you own ANCX shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
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WeissLaw is investigating whether ANCX's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $34.00 per ANCX share.
Moreover, the deal is a strategic transaction which UBSH anticipates will strengthen its market positioning and expand its regional footprint.
Given these facts, WeissLaw is concentrating its investigation on whether ANCX's Board conducted a fair process in agreeing to the proposed acquisition, and whether the proposed acquisition undervalues the Company.
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.
SOURCE: WeissLaw LLP