STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of The Bank of Kentucky Financial Corporation (“Bank of Kentucky” or the “Company”) (NASDAQ: BKYF) relating to the proposed buyout of the Company by BB&T Corporation (“BB&T”).
On September 8, 2014 BB&T and Bank of Kentucky announced the signing of a definitive agreement under which BB&T will acquire Bank of Kentucky in a cash and stock transaction for a total consideration valued at approximately $363 million.
Under the terms of the transaction, Bank of Kentucky shareholders will receive 1.0126 shares of BB&T common stock and $9.40 of cash for each share of Bank of Kentucky common stock they own. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether BB&T is underpaying for Bank of Kentucky shares.
If you currently own common stock of Bank of Kentucky and would like to learn more about the investigation being conducted by Brower Piven, 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 firstname.lastname@example.org 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.