Mayflower Bancorp Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Ind
May 15th 2013 11:42AM
Updated May 15th 2013 12:40PM
Mayflower Bancorp Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Independent Bank Corp.
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Mayflower Bancorp, Inc. ("Mayflower") (NasdaqGM: MFLR) to Independent Bank Corp., parent of Rockland Trust Company, for shareholders. Under the terms of the proposed sale valued at approximately $37.2 million, Mayflower shareholders will be able to elect between receiving either $17.50 in cash or 0.565 of an Independent share for each share of Mayflower stock owned, subject to proration and allocation so that 70% of Mayflower shares are exchanged for Independent stock.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The Mayflower sale investigation centers on whether Mayflower's shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction undervalues Mayflower's stock, and whether Mayflower's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, "Due to the nature of the election between cash and stock options, the size of the deal, the lack of a significant premium and other factors, we believe this transaction may undervalue Mayflower's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC 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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