|[February 26, 2013]
Rigrodsky & Long, P.A. Announces Investigation Of Atlantic Coast Financial Corporation Buyout
WILMINGTON, Del. --(Business Wire)--
Rigrodsky & Long, P.A.:
Do you own shares of Atlantic Coast Financial Corporation (NASDAQ
Did you purchase any of your shares prior to February 26, 2013
Do you think the proposed buyout price is too low
Do you want to discuss your rights
& Long, P.A. announces that it is investigating potential legal
claims against the board of directors of Atlantic Coast Financial
Corporation ("ACFC" or the "Company") (NASDAQ GM: ACFC)
regarding possible breaches of fiduciary duties and other violations of
law related to the Company's entry into an agreement to be acquired by
Bond Street Holdings, Inc. ("Bond Street").
Click here to learn more: http://www.rigrodskylong.com/investigations/atlantic-coast-financial-corporation-acfc.
Under the terms of the proposal, public shareholders of ACFC will
receive $5.00 per share in cash for each share of ACFC they own. Of the
total transaction price of $5.00, $2.00 will be held in an escrow
account and will be available to cover losses from stockholder claims
for one year or until the final resolution of such claims, if later.
The investigation concerns whether ACFC's board of directors failed to
adequately shop the Company and obtain the best possible value for
ACFC's shareholders before entering into an agreement with Bond Street.
If you own the common stock of ACFC and purchased your shares before
February 26, 2013, 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 Peter Allocco at Rigrodsky &
Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York
11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org,
or at: http://www.rigrodskylong.com/investigations/atlantic-coast-financial-corporation-acfc.
& 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.
Attorney advertising. Prior results do not guarantee a similar outcome.
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