An investigation on behalf of investors of HopFed Bancorp, Inc. (NASDAQ: HFBC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 01/29/2019 -- An investigation was announced concerning the takeover of HopFed Bancorp, Inc.
Investors who purchased shares of HopFed Bancorp, Inc. (NASDAQ: HFBC) and currently hold any of those NASDAQ: HFBC shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of HopFed Bancorp, Inc. breached their fiduciary duties owed to NASDAQ: HFBC investors in connection with the proposed acquisition.
Hopkinsville, KY based HopFed Bancorp, Inc. operates as the bank holding company for Heritage Bank USA, Inc. that provides various banking products and services. On January 7, 2019, First Financial Corporation (NASDAQ: THFF) and HopFed Bancorp, Inc. (NASDAQ: HFBC) jointly announced the execution of a merger agreement under which HopFed Bancorp, Inc. will merge into First Financial in a cash and stock transaction . Under the terms of the merger agreement, , stockholders of HopFed Bancorp, Inc. may elect to receive either (or a combination of) 0.444 shares of First Financial common stock or $21.00 in cash for each share of HopFed Bancorp, Inc. common stock owned.
However, the investigation concerns whether the offer is unfair to HopFed Bancorp, Inc. (NASDAQ: HFBC stockholders. More specifically, the investigation concerns whether the HopFed Bancorp, Inc. (NASDAQ: HFBC Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
HopFed Bancorp, Inc. reported that its annual Total Revenue rose from $33.19 million in 2016 to $35.11 million in 2017 and that its Net Income increased from $2.9 million in 2016 to $3.3 million
Those who are current investors in HopFed Bancorp, Inc. (NASDAQ: HFBC) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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