Faruqi & Faruqi, LLP Announces the Investigation of National Penn Bancshares, Inc. (NPBC) Over the Proposed Sale of the Company to BB&T Corporation
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of National Penn Bancshares Inc. (“National Penn” or the “Company”) (NasdaqGS:NPBC) for potential breaches of fiduciary duties in connection with the sale of the Company to BB&T Corporation for approximately $1.8 billion.
The Company’s stockholders may elect to receive 0.3206 of a share of BB&T common stock or $13.00 in cash for each share of Company common stock they own. However, the offer represents a negligible premium over the Company’s opening price per share of $12.53 on August 20, 2015 and the stock is expected to continue climbing.
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The investigation focuses on whether National Penn’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 National Penn’s shareholders.
If you own common stock in National Penn and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.