NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Parkvale Financial Corporation (NASDAQ: PVSA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to F.N.B. Corporation (NYSE: FNB). Under the terms of the proposed deal, Parkvale shareholders will receive 2.178 shares of F.N.B. Corporation stock for each share of Parkvale stock they own. The transaction implies a per share value of approximately $22.48 and a total transaction value of $130 million.
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The investigation concerns whether the Parkvale Board of Directors breached their fiduciary duties to Parkvale stockholders by failing to adequately shop the Company before entering into this transaction and whether F.N.B. Corporation is underpaying for Parkvale shares. According to Thomson/First Call, at least one analyst set a target price for Parkvale stock at $27.00 per share.
If you own common stock in Parkvale and wish to obtain additional information, please contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/parkvale-financial-corp.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.