MILWAUKEE, Nov. 18, 2022 /PRNewswire/ -- Ademi LLP is investigating Surrey SRYB for possible breaches of fiduciary duty and other violations of law in its transaction with First Community.
Click here to learn how to join the action https://www.ademilaw.com/case/surrey-bancorp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Surrey's financial outlook and prospects are excellent and yet Surrey holders will receive only 0.7159 shares of First Community common stock, which equates to $26.95 per share of Surrey common stock and an aggregate transaction value of approximately $113.2 million based on First Community's recent 10-day volume-weighted average price. The transaction agreement unreasonably limits competing bids for Surrey by imposing a significant penalty if Surrey accepts a superior bid. Surrey insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Surrey's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Surrey.
If you own Surrey common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/surrey-bancorp.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
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SOURCE Ademi LLP
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