BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of First Security Group, Inc. ("First Security” or "the Company") (Nasdaq:FSGI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Atlantic Capital Bancshares, Inc. (“Atlantic”).
Click here to learn more about the investigation http://brodsky-smith.com/908-fsgi-first-security-group-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, First Security shareholders will receive either only $2.35 in cash or 0.188 of a share of Atlantic common stock for each share of First Security stock they own. The investigation concerns whether the Board of First Security breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Atlantic is underpaying for First Security. The transaction may undervalue First Security and will result in loss or no real gain for many First Security shareholders. For example, First Security stock traded at $5.87 per share on May 10, 2013 and traded at $2.33 per share as recently as March 19, 2015. In addition, an analyst has set a price target for First Security stock at $2.50 per share.
If you own shares of First Security stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/908-fsgi-first-security-group-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.