NEW YORK, Oct. 12, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MBT Financial Corporation ("MBTF" or the "Company") (NASDAQ: MBTF) in connection with the proposed acquisition of the Company by First Merchants Corporation ("FRME") (FRME). Under the terms of the acquisition agreement, shareholders will be entitled to receive 0.275 for each MBTF share they own. This implies consideration of $12.13 based on FRME's October 10 trading price of $44.11.
If you own MBTF 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 MBTF's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company announced positive financial results in its preliminary reports for the second quarter of 2018. It reported net profit of $4.95 million, or $0.22 per basic share, in the period. This represents an increase of approximately $1.31 million when compared to the figures reported in the same period of the previous year. It also reported a 9.8 % increase in net interest income, and total loan growth of $18.5 million.
Given these facts, WeissLaw is concentrating its investigation on whether MBTF'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 firstname.lastname@example.org.
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