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SHAREHOLDER ALERT: Weiss Law Investigates GrandSouth Bancorporation

GRRB, FBNC

NEW YORK, June 22, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of GrandSouth Bancorporation ("GrandSouth" or the "Company") (OTC: GRRB) in connection with the proposed acquisition of the Company by First Bancorp ("First Bancorp") (NASDAQ: FBNC). Under the terms of the merger agreement, the Company's shareholders will receive 0.910 shares of First Bancorp common stock for each GrandSouth share owned, representing implied per-share merger consideration of approximately $32.01 based upon First Bancorp's June 21, 2022 closing price of $35.26. The all-stock transaction is valued at approximately $181.1 million.

(PRNewsfoto/WeissLaw LLP)

If you own GrandSouth shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslaw.co/news-and-cases/grrb
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

Weiss Law is investigating whether (i) GrandSouth's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates GrandSouth's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

Weiss Law 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

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-weiss-law-investigates-grandsouth-bancorporation-301573381.html

SOURCE Weiss Law