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MetroCorp Bancshares, Inc. (MCBI)

(NasdaqGS: MCBI)


The Acquisition of MetroCorp Bancshares, Inc. (MCBI) by East West Bancorp (EWBC) May Be Detrimental to the Interests of MetroCorp Bancshares, Inc. Shareholders

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of MetroCorp Bancshares Inc. (“MetroCorp” or the “Company”) (NasdaqGS: MCBI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to East West Bancorp, Inc. (“East West”) (NasdaqGS: EWBC) in a deal valued at approximately $273 million.  Under the terms of the proposed transaction, East West will acquire the outstanding shares of MetroCorp for the lesser of $14.60 per share and 1.72 times per-share tangible equity.

The investigation focuses on whether MetroCorp’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of MetroCorp’s shareholders.

If you own common stock in MetroCorp and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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    MetroCorp Bancshares, Inc. (MCBI)

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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330


Case Details


  • 09/19/2013

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