|[February 27, 2013]
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Atlantic Coast Financial in Connection with the Sale of the Company to Bond Street Holdings, Inc.
NEW YORK --(Business Wire)--
Levi & Korsinsky is investigating the Board of Directors of Atlantic
Coast Financial ("Atlantic Coast" or the "Company") (Nasdaq: ACFC) for
possible breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Bond Street Holdings, Inc.
Click here to learn how to join the action: http://zlk.9nl.com/atlantic-coast-financial-acfc/,
or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Atlantic Coast shareholders will
receive $5.00 for each share of Atlantic Coast stock they own; of that
$5.00 consideration, $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 the Atlantic Coast Board of Directors breached their
fiduciary duties to Atlantic Coast stockholders by failing to adequately
shop the Company before entering into this transaction and whether Bond
Street Holdings, Inc. is underpaying for Atlantic Coast shares, thus
unlawfully harming Atlantic Coast stockholders. In particular, Atlantic
Coast has a reported a book value of $16.96 per share for the most
If you own common stock in Atlantic Coast and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email at email@example.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/atlantic-coast-financial-acfc/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud,
representing investors throughout the nation in securities and
shareholder lawsuits. For more information, please feel free to contact
any of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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