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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Atlantic Coast Financial (NASDAQGS: ACFC) to Ameris Bancorp (NASDAQGS: ABCB) for 0.17 shares of Ameris common stock and $1.39 in cash per share.
The investigation concerns whether the Board of Atlantic Coast Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ameris Bancorp is underpaying for Atlantic Coast Financial shares, thus unlawfully harming Atlantic Coast Financial shareholders.
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