NEW YORK, June 24, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Shore Community Bank ("Shore" or the "Company") (OTCPK: SHRC) in connection with the proposed acquisition of the Company by 1st Constitution Bancorp (NASDAQ:FCCY). Under the terms of the agreement, which is valued at $16.54 a share, SHRC shareholders will 0.8786 shares of FCCY common stock, $16.50 in cash, or a combination of FCCY common stock and cash, subject to adjustment.
If you own SHRC 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 Shore's Board acted to maximize shareholder value prior to entering into the agreement. WeissLaw is investigating whether Shore's Board breached its fiduciary duties in agreeing to the merger. Notably, according to 1st Constitution Bancorp's President and CEO, Robert T. English, the merger will expand 1st Constitution Bancorp's presence into several attractive new markets with "desirable demographics and growth opportunities." Additionally, the Company issued a cash dividend of $0.075 per share on May 17, 2019.
WeissLaw is concerned whether the Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, whether the Company turned down a better offer, 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 firstname.lastname@example.org
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SOURCE WeissLaw LLP