NEW YORK, March 4, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Severn Bancorp, Inc. (“Severn” or the “Company”) (NASDAQ: SVBI) in connection with the proposed acquisition of the Company by Shore Bancshares, Inc. (“Shore”) (NASDAQ: SHBI). Under the terms of the merger agreement, Shore will acquire Severn in a mixed cash-and-stock transaction, pursuant to which Severn shareholders will receive $1.59 in cash and 0.6207 of a Shore common stock for each Severn share that they own, representing implied per-share merger consideration of approximately $11.66 based upon Shore’s March 3, 2021 closing price of $16.23.
If you own Severn shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether Severn’s board acted in the best interest of Severn’s public shareholders in agreeing to the proposed transaction, whether the merger consideration adequately compensates Severn’s shareholders, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Severn’s public shareholders.
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 [email protected]
SOURCE WeissLaw LLP