BVFL - WeissLaw LLP: MB Bancorp Inc. Acquisition May Not Be In The Best Interest Of MBCQ Shareholders
NEW YORK, Sept. 6, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MB Bancorp, Inc. ("MBCQ" or the "Company") (OTC: MBCQ) in connection with the proposed acquisition of the Company by BV Financial, Inc. (OTC: BVFL). Under the terms of the acquisition agreement, shareholders will receive $15.85 for each MBCQ share they own.
If you own MBCQ shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
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WeissLaw is investigating whether MBCQ's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, the offer price is $1.40 less than the Company's 52-week high of $18.25. Additionally, MBCQ shares traded for $17.00, or $1.15 above the per share offer, as recently as August 22, 2019.
Given these facts, WeissLaw is concentrating its investigation on whether the acquisition enhances shareholder value. Specifically, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition 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 stockinfo@weisslawllp.com
SOURCE WeissLaw LLP