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Levi & Korsinsky, LLP is investigating the Board of Directors of CBBC Bancorp (OTC MKTS: CBBC) in connection with the sale of the Company to Suncrest Bank (OTCQX: SBKK). Under the terms of the transaction, shareholders of CBBC may elect to receive (i) $23.75 in cash or (ii) 2.262 shares of Suncrest common stock per share.
The investigation concerns whether the Board of CBBC Bancorp breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Suncrest Bank is underpaying for CBBC Bancorp shares, thus unlawfully harming CBBC Bancorp shareholders.
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