Ademi LLP Investigates Pacific Financial Corporation for Potential Fiduciary Duty Violations in Merger with Banner Corporation
Ademi LLP is investigating Pacific Financial Corporation (PFLC) for possible breaches of fiduciary duty in its merger with Banner Corporation. Shareholders will receive 0.2633 shares of Banner stock for each share of Pacific Financial, valued at $17.44 per share based on Banner's closing price. The merger gives Banner shareholders a 93% stake in the combined company.
Tickers: $BANR
Topics: corporate governance fiduciary duty legal investigation merger shareholder rights