Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Frederick County Bancorp, Inc. (“FCBI” or the “Company”) (OTCMKTS: FCBI) to ACNB Corporation (“ACNB”) (NASDAQCM: ACNB). FCBI will be merged with and into an ACNB acquisition subsidiary. Under the terms of the deal, FCBI shareholders will receive 0.9900 share of ACNB common stock for each share of FCBI common stock that they own as of the closing date.
The FCBI merger investigation concerns whether the Board of FCBI breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether ACNB is underpaying for FCBI shares, thus unlawfully harming FCBI shareholders.
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