NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of First M&F Corporation (“First M&F” or the “Company”) (NasdaqGS: FMFC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Renasant Corporation (“Renasant”) (NasdaqGS: RNST) in a stock-for-stock deal valued at approximately $119 million. Under the terms of the proposed transaction, First M&F’s stockholders will receive 0.6425 shares of Renasant common stock for each share of First M&F common stock they own. The consideration to be received by First M&F shareholders is valued at $12.49 based on Renasant’s closing price the day before the announcement, February 6, 2013.
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The investigation focuses on whether First M&F’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of First M&F’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in First M&F and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/FMFC or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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