BANK OF KENTUCKY FINANCIAL CORP. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of The Bank of Kentucky Financial Corp. (BKYF) Over the Proposed Sale of the Company to BB&T Corporation (BBT)
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 The Bank of Kentucky Financial Corp. (“Bank of Kentucky” or the “Company”) (NasdaqGS: BKYF) for potential breaches of fiduciary duties in connection with the sale of the Company to BB&T Corporation (“BB&T”) for approximately $363 million in cash and stocks. The Company’s stockholders will receive 1.0126 shares of BB&T common stock and $9.40 in cash for each share of The Bank of Kentucky common stock they own, a deal valued at approximately $47.45 per share based on BB&T’s closing price on September 5, 2014.
The investigation focuses on whether Bank of Kentucky’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Bank of Kentucky’s shareholders.
If you own common stock in the Bank of Kentucky and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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