WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Avenue Financial Holdings, Inc. (NASDAQ GS: AVNU)?
- Did you purchase any of your shares prior to January 29, 2016?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Avenue Financial Holdings, Inc. (“Avenue Financial” or the “Company”) (NASDAQ GS: AVNU) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Pinnacle Financial Partners, Inc. (“Pinnacle Financial”) (NASDAQ GS: PNFP).
Click here to learn more: http://rigrodskylong.com/investigations/avenue-financial-holdings-inc-avnu-buyout.
Under the terms of the agreement, shareholders of Avenue Financial will receive 0.36 shares of Pinnacle Financial and $2.00 in cash for each share of Avenue Financial they own. Based on Pinnacle Financial’s closing stock price on January 28, 2016, Avenue Financial shareholders would have received compensation valued at approximately $19.65 per share.
The investigation concerns whether Avenue Financial’s board of directors failed to adequately shop the Company and obtain the best possible value for Avenue Financial’s shareholders before entering into an agreement with Pinnacle Financial. According to Yahoo! Finance, at least one analyst has issued a price target for Avenue Financial stock at $22.00 per share.
If you own the common stock of Avenue Financial and purchased your shares before January 29, 2016, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://rigrodskylong.com/investigations/avenue-financial-holdings-inc-avnu-buyout.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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