NEW YORK, Feb. 1, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Virginia Commerce Bancorp Inc. ("Virginia Commerce" or the "Company") (NasdaqGS: VCBI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to United Bankshares Inc. ("United") (NasdaqGS: UBSI).
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Under the terms of the transaction, Virginia Commerce shareholders will receive 0.5442 of a United share for each share of Virginia Commerce stock they own, representing a value of approximately $14 per share. The transaction has total approximate value of $490 million. The investigation concerns whether the Virginia Commerce Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether United is underpaying for Virginia Commerce shares, thus unlawfully harming Virginia Commerce stockholders.
If you own common stock in Virginia Commerce and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/virginia-commerce-bancorp-vcbi/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP