SHAREHOLDER ALERT: Brower Piven Announces Class Action Lawsuit in Connection With the Sale of Franklin Financial Corporation -- FRNK

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STEVENSON, Md., Oct. 7, 2014 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia on behalf of all common stockholders of Franklin Financial Corporation ("Franklin" or the "Company") FRNK relating to the proposed buyout of the Company by TowneBank ("TowneBank").

The complaint arises out of the July 15, 2014 announcement that Franklin had entered into a definitive agreement with TowneBank, pursuant to which Franklin shareholders will receive 1.40 shares of TowneBank stock for each share of Franklin they own, representing a value of $23.04 per share.

The complaint seeks relief on behalf of the named plaintiff and all other similarly situated shareholders of Franklin and asserts whether the Company's Board of Directors breached their fiduciary duties by failing to maximize shareholder value and/or protect the interests of Franklin shareholders.

If you currently own common stock of Franklin and would like to learn more about this lawsuit and your ability to participate as a plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
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Posted In: Press Releases
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