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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of FPB Financial Corp. (OTCMKTS: FPBF) to The First Bancshares, Inc. (NASDAQGM: FBMS). Under the terms of the transaction, FPB shareholders will receive 0.83 shares of First Bancshares common stock for each share of FPB stock they own, subject to adjustment dependent upon the average closing price of First Bancshares’ common stock in the period prior to the closing of the merger.
The FPB merger investigation concerns whether the Board of FPB breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether First Bancshares is underpaying for FPB shares, thus unlawfully harming FPB shareholders.
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