|[June 13, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of LSB Financial Corp. In Connection With The Proposed Sale Of The Company To Old National Bancorp
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 to current shareholders of LSB Financial Corp. ("LSB
Financial" or the "Company") (NasdaqGM: LSBI) and other violations of
state law by the board of directors of LSB Financial relating to the
proposed buyout of the Company by Old National Bancorp ("Old National"),
in a transaction valued at approximately $66.7 million.
Under the terms of the transaction, public shareholders of LSB Financial
would receive 2.269 shares of Old National common stock and $10.63 in
cash for each share of LSB Financial they own. Based on Old National's
closing stock price on June 3, 2014, LS Financial shareholders would
have received consideration valued at approximately $41.67 per share.
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 this
transaction, and whether Old National is underpaying for LSB Financial
If you currently own common stock of LSB Financial 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 email@example.com
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.
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