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 TF Financial Corporation (“TF Financial”) (NASDAQ GS: THRD)
concerning the sale of TF Financial to National Penn Bancshares, Inc.
Under the terms of the transaction, which is valued at approximately
$138 million, TF Financial shareholders can elect to receive $42.00 in
cash or 4.22 shares of National Penn for each share of THRD common stock
owned.
TF Financial shares closed at $31.84 per share the day before the merger
announcement. Further, in the past 52 weeks, TF Financial shares have
gained in value over 27%. “Based on these and other factors, we are
investigating whether the current buyout is fair to THRD shareholders
and whether the price offered is enough to compensate shareholders for
the true inherent value of their stock. Our investigation also centers
on whether TF Financial’s Board of Directors employed an adequate
process to review and act on the proposed transaction,” said shareholder
rights attorney Patrick Powers.
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 our investigation 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
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