Shareholder Alert: Ademi LLP investigates whether American River Bankshares has obtained a Fair Price in its transaction with Bank of Marin Bancorp.
April 19, 2021 at 12:55 PM EDT
MILWAUKEE, April 19, 2021 /PRNewswire/ -- Ademi LLP is investigating AMRB (Nasdaq: AMRB) for possible breaches of fiduciary duty and other violations of law in its transaction with BMRC.
Click here to learn how to join the action: https://www.ademilaw.com/case/american-river-bankshares or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges AMRB's financial outlook is excellent and yet AMRB shareholders will receive only a fixed exchange ratio of 0.575 shares of BMRC common stock for each share of AMRB common stock outstanding. Based on BMRC's closing stock price of $39.06 on April 16, 2021, the transaction is valued at $134.5 million, or $22.46 per share of AMRB common stock. Such value will fluctuate with changes in the stock price of BMRC. The merger agreement unreasonably limits competing bids for AMRB by prohibiting solicitation of further bids, and imposing a termination penalty if AMRB accepts a superior bid. AMRB insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of AMRB's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for AMRB.
If you own AMRB common stock and wish to obtain additional information, please contact Guri Ademi either at email@example.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/american-river-bankshares.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP