MILWAUKEE, March 3, 2021 / PRNewswire / – Ademi LLP is investigating Severn (NASDAQ: SVBI) for possible breaches of fiduciary duty and other violations of law in connection with its transaction with Shore.
Click here to find out how to join the action: http://ademilaw.com/case/severn-bancorp-inc or call Guri Ademi toll free at 866-264-3995. There is no cost or obligation for you.
Ademi LLP alleges that Severn’s financial outlook is excellent and yet Severn shareholders will only receive $ 11.30 per Severn common share, based on a closing price of the Shore common share of $ 15.64 from March 2, 2021 and $ 1.59 per share in cash. The Merger Agreement unreasonably restricts competing bids for Severn by prohibiting the solicitation of other bids and imposing a termination penalty if Severn accepts a higher bid. Severn insiders will receive millions of dollars as part of the change of control agreements. We are investigating the conduct of Severn’s board of directors and whether it (i) fulfills its fiduciary duties to all shareholders and (ii) obtains a fair and reasonable price for Severn.
If you own Severn common stock and would like additional information, please contact Guri Ademi either to [email protected] or toll free: 866-264-3995, or http://ademilaw.com/case/severn-bancorp-inc.
We specialize in shareholder disputes involving buyouts, mergers and individual shareholder rights across the country. For more information, do not hesitate to give us a call. Lawyer advertising. Past results do not guarantee similar results.
Toll free: (866) 264-3995
Fax: (414) 482-8001
SOURCE Ademi LLP