Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of LSB Financial Corporation (“LSB Financial”) (NASDAQ GS:
LSBI) concerning the sale of LSB Financial to Old National Bancorp
(“ONB”). Under the terms of the cash and share merger transaction, which
is valued at approximately $66.7 million, LSB Financial shareholders
will receive $10.63 in cash and 2.269 shares of Old National for each
share of LSBI common stock owned. Based on Old National’s share price
the day prior to the announcement, the value to LSBI shareholders is
only approximately $41.67 per share.
If you are an affected investor, and you want to learn more about the
investigation or if you have information that you believe would be
helpful to the determination of the fairness of the proposed
transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214)
239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
The investigation centers on whether LSB Financial’s Board of Directors
is acting in the shareholders’ best interests, whether the board is
properly negotiating a higher share price for the shareholders, and
whether the board has employed an adequate process to review and act on
the proposed transaction.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2014