An investigation for investors, who currently hold NASDAQ:FCLF shares , was announced concerning whether the takeover of First Clover Leaf Financial Corp. by First Mid-Illinois Bancshares, Inc is unfair.
Investors who purchased shares of First Clover Leaf Financial Corp. (NASDAQ:FCLF) and currently hold any of those NASDAQ:FCLF shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain First Clover Leaf Financial directors breached their fiduciary duties owed to NASDAQ:FCLF investors in connection with the proposed acquisition.
On April 26, 2016 First Mid-Illinois Bancshares, Inc. (NASDAQ: FMBH) announced the execution of am agreement under which First Mid-Illinois Bancshares, Inc will acquire all of the outstanding shares of Fir First Clover Leaf Financial Corp. (NASDAQ:FCLF) in a cash and stock transaction valued at $12.87 per share, or a total of approximately $90 million.
However, the investigation concerns whether the offer is unfair to NASDAQ:FCLF stockholders. More specifically, the investigation concerns whether the First Clover Leaf Financial Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Shares of First Clover Leaf Financial Corp. (NASDAQ:FCLF) closed on May 5, 2016, at $11.75 per share.
Those who are current investors in NASDAQ:FCLF shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com