Tower Bancorp, Inc. Has Agreed to be Acquired by Susquehanna Bancshares, Inc.

  • Do you own shares of Tower Bancorp, Inc. (Nasdaq: TOBC)?
  • Did you buy any shares before June 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 Tower 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 Susquehanna Bancshares, Inc. for approximately $343 million.

Click here to read the full press release.

Rigrodsky & Long, P.A. Investigates Tower Bancorp, Inc.'s Sale to Susquehanna Bancshares, Inc. for Shareholders

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Tower Bancorp, Inc. (“Tower Bancorp” or the “Company”) (Nasdaq: TOBC) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Susquehanna Bancshares, Inc. (“Susquehanna”) in a transaction with an approximate value of $343 million.

Under the proposed agreement, Tower Bancorp shareholders will have the option of receiving either 3.4696 shares of Susquehanna common stock or $28.00 in cash for each share of Tower Bancorp common stock they own, with $88 million of the aggregate consideration being paid in cash.

The investigation concerns whether Tower Bancorp’s board of directors adequately shopped the Company to obtain the best price possible for Tower Bancorp’s shareholders before entering into the agreement with Susquehanna.  Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $31.50 per share for Tower Bancorp stock.

If you own the common stock of Tower Bancorp and purchased your shares before June 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, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, 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.

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

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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