NEW YORK, Aug. 22, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Cardinal Financial
Corporation ("CFNL" or the "Company") in connection with the proposed acquisition of the Company by United Bankshares, Inc.
("UBSI"). On August 18, 2016, the Company announced that it had reached a definitive agreement
for UBSI to acquire all outstanding shares of CFNL in a stock-for stock transaction valued at approximately $912 million. Under the terms of the agreement, CFNL shareholders will receive 0.71 of a share of UBSI for
each CFNL share they own; representing consideration of $27.17 per share, based on UBSI's
August 18 trading price.
WeissLaw is investigating whether CFNL's Board acted to maximize shareholder value prior to entering into the
agreement. Notably, on the same day as the announcement, CFNL shares traded at $28.16, or
nearly a dollar more than the per share consideration. Additionally, the Company recently announced positive financial
results, reporting earnings of $14.1 million in the quarter ended June 30,
2016, representing a 5% year-over-year increase when compared to the $13.4 million reported
in the same period of the previous year.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell CFNL and whether CFNL shareholders will
obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own CFNL shares
and would like more information about your rights or our investigation, or if you have information to share with us, please
contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in
many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including
insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including
false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out
the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP