The Law Firm of Levi & Korsinsky, LLP Launches an Investigation
into Possible Breaches of Fiduciary Duty by the Board of Virginia
Commerce Bancorp Inc. in Connection with the Sale of the Company to
United Bankshares Inc.
NEW YORK, Feb. 1, 2013 /PRNewswire/ -- Levi
& Korsinsky is investigating the Board of Directors of Virginia
Commerce Bancorp Inc. ("Virginia Commerce" or the "Company")
(NasdaqGS: VCBI) for possible breaches of
fiduciary duty and other violations of state law in connection with
the sale of the Company to United Bankshares Inc. ("United")
(NasdaqGS: UBSI).
Click here to learn how to join the action:
http://zlk.9nl.com/virginia-commerce-bancorp-vcbi/, or call:
877-363-5972. There is no cost or obligation to
you.
Under the terms of the transaction, Virginia Commerce
shareholders will receive 0.5442 of a United share for each
share of Virginia Commerce stock they own, representing a value of
approximately $14 per share.
The transaction has total approximate value of $490 million. The investigation concerns whether
the Virginia Commerce Board of Directors breached their fiduciary
duties to stockholders by failing to adequately shop the Company
before entering into this transaction and whether United is
underpaying for Virginia Commerce shares, thus unlawfully harming
Virginia Commerce stockholders.
If you own common stock in Virginia Commerce and
wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or
http://zlk.9nl.com/virginia-commerce-bancorp-vcbi/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities
and shareholder lawsuits. The attorneys at Levi & Korsinsky
have been appointed by numerous courts throughout the country to
serve as lead counsel on behalf of shareholders in major securities
lawsuits and have successfully recovered multimillion-dollar
damages awards on behalf of investors. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi &
Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP