WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of SP Bancorp, Inc. (NASDAQ CM: SPBC)?
- Did you purchase any of your shares prior to May 5, 2014?
- Do you think the proposed buyout price 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 SP Bancorp, Inc. (“SP Bancorp” or the “Company”) (NASDAQ CM: SPBC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Green Bancorp, Inc. (“Green Bancorp”), in a transaction valued at approximately $46.2 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/sp-bancorp-inc-spbc.
Under the terms of the agreement, public shareholders of SP Bancorp would receive $29.55 in cash for each share of SP Bancorp they own.
The investigation concerns whether SP Bancorp’s board of directors failed to adequately shop the Company and obtain the best possible value for SP Bancorp’s shareholders before entering into an agreement with Green Bancorp.
If you own the common stock of SP Bancorp and purchased your shares before May 5, 2014, 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 firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/sp-bancorp-inc-spbc.
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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