SHAREHOLDER ALERT: WeissLaw LLP Investigates MutualFirst Financial, Inc.
NEW YORK, Jan. 21, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MutualFirst Financial, Inc. ("MFSF" or the "Company") (NASDAQ: MFSF) in connection with the proposed acquisition of the Company by Northwest Bancshares, Inc. ("NWBI") (NASDAQ: NWBI). Under the terms of the acquisition agreement, MFSF shareholders will receive 2.24 shares of NWBI common stock for each MFSF share they own, representing consideration of $36.37, based on NWBI's October 30 opening price.
If you own MFSF shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/mutualfirst-financial-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
WeissLaw is investigating whether MFSF's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a target price of $38.50, or $2.13 above the per-share consideration. Additionally, prior to the announcement, the Company announced positive financial results for the third quarter of 2019. It reported net income of $6.1 million, representing an approximately 12.5% increase year-over-year when compared to the $5.4 million reported in the same period of the previous year.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP
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