CommerceFirst Bancorp, Inc. Has Agreed to be Acquired by Sandy Spring Bancorp, Inc.

  • Do you own shares of CommerceFirst Bancorp, Inc. (Nasdaq: CMFB)?
  • Did you buy any shares before December 20, 2011?
  • Do you think that the proposed buyout price is too low?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

Contact R & L today to be sure your best interests are being protected.

R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of CommerceFirst Bancorp, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Sandy Spring Holding, Inc. for approximately $25.4 million.

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Rigrodsky & Long, P.A. Investigates CommerceFirst Bancorp, Inc.'s Sale to Sandy Spring Bancorp, Inc. for Shareholders

Rigrodsky & Long, P.A.announces that it is investigating potential claims against the board of directors of CommerceFirst Bancorp, Inc. (“CommerceFirst” or the “Company”) (Nasdaq: CMFB) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Sandy Spring Bancorp, Inc. (“Sandy Spring”) in a transaction with an approximate value of $25.4 million.

Under the proposed agreement, Sandy Spring will acquire all of the shares of CommerceFirst common stock for a combination of 50% Sandy Spring common stock and 50% cash.  The stock consideration will be at a fixed exchange ratio of 0.8043 Sandy Spring shares for each CommerceFirst share and the cash consideration will be $13.60 per share.  The aggregate merger consideration will consist of approximately 732,000 shares of Sandy Spring common stock and $12.4 million in cash. CommerceFirst shareholders will be permitted to elect Sandy Spring common stock or cash, or a combination of each; subject to proration procedures to preserve the aggregate 50% stock and 50% cash consideration mix. 

The investigation concerns whether CommerceFirst’s board of directors adequately shopped the Company to obtain the best price possible for CommerceFirst shareholders before entering into the agreement with Sandy Spring.

If you own the common stock of CommerceFirst and purchased your shares before December 20, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquireor Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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