Rigrodsky & Long, P.A.:
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Do you own shares of Firstbank Corporation (NASDAQ GS: FBMI)?
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Did you purchase any of your shares prior to August 15, 2013?
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Do you think the proposed buyout price is too low?
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Do you want to discuss your rights?
Rigrodsky
& Long, P.A. announces that it is investigating potential legal
claims against the board of directors of Firstbank Corporation
(“Firstbank” or the “Company”) (NASDAQ GS: FBMI)
regarding possible breaches of fiduciary duties and other violations of
law related to the Company’s entry into an agreement to be acquired by
Mercantile Bank Corporation (“Mercantile”) (NASDAQ GS: MBWM)
in a transaction valued at approximately $151.5 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/firstbank-corporation-fbmi.
Under the terms of the proposal, public shareholders of Firstbank will
receive 1.00 share of Mercantile common stock for each share of
Firstbank they own. Based upon Mercantile’s closing stock price on
August 14, 2013, Firstbank shareholders would have received
consideration valued at approximately $18.77 per share.
The investigation concerns whether Firstbank’s board of directors failed
to adequately shop the Company and obtain the best possible value for
Firstbank’s shareholders before entering into an agreement with
Mercantile.
If you own the common stock of Firstbank and purchased your shares
before August 15, 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 Seth Rigrodsky or Shaye
Fuchs at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300,
Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail
to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/firstbank-corporation-fbmi.
Rigrodsky
& 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.
Copyright Business Wire 2013