Law Office of Brodsky & Smith, LLC Announces Investigation of Wilmington Trust Corporation
November 02 2010 - 10:00PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors
Wilmington Trust Corporation (“Wilmington Trust”) or the “Company”)
(NYSE: WL) relating to the proposed acquisition by M&T Bank
Corporation (“M&T”).
Under the terms of the transaction, Wilmington Trust
shareholders would receive 0.051372 shares of M&T stock for
each share of Wilmington Trust stock they own. The transaction
values Wilmington Trust shares at approximately $3.84 per share.
The investigation concerns possible breaches of fiduciary duty and
other violations of state law. The transaction appears to be
unfair, in part, given that Wilmington Trust stock traded at $7.11
as recently as recently as October 29, 2010 and an analyst set a
price target for Wilmington Trust at $13.00 per share. Thus,
shareholders need additional information to know if M&T is
underpaying for the company.
If you own shares of Wilmington Trust and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, , visiting
http://brodsky-smith.com/242-wl-wilmington-trust-corporation.html,
or by calling toll free 877-LEGAL-90.
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