Severn Bancorp, Inc.
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SEVERN BANCORP MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF SEVERN BANCORP, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – SVBI
March 4, 2021.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Severn Bancorp, Inc. (NASDAQ: SVBI) to Shore Bancshares, Inc. is fair to Severn Bancorp shareholders.
Under the terms of the definitive agreement, holders of Severn Bancorp common stock will have the right to receive 0.6207 shares of Shore common stock and $1.59 in cash for each share of Severn Bancorp common stock they own.
The investigation concerns whether Severn Bancorp and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Severn Bancorp shareholders; (2) determine whether Shore is underpaying for Severn Bancorp; and (3) disclose all material information necessary for Severn Bancorp shareholders to adequately assess and value the merger consideration. On behalf of Severn Bancorp shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
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