The Briscoe Law Firm Investigates Wilmington Trust Corp. for Shareholders Concerning the Acquisition by M&T Bank Corporation
November 01 2010 - 3:18PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Wilmington Trust Corporation (“Company” or “WL”) (NYSE: WL)
related to the proposed acquisition of the Company by M&T Bank
Corporation.
On November 1, 2010, the companies announced the definitive
merger agreement under which Wilmington Trust would be acquired by
M&T in a transaction valued at approximately $351 million.
Under the terms of the agreement, Wilmington Trust stockholders
will receive 0.051372 shares of M&T common stock for each share
of Wilmington Trust/WL common stock held, about half Wilmington
Trust’s Oct. 29 market value. This investigation relates to
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of WL for approving this transaction
and whether WL’s Board of Directors acted in the shareholders’ best
interests.
If you currently own shares of WL and would like additional
information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC, toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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