WILMINGTON, Del., May 01, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of holders of Royal Bancshares of Pennsylvania, Inc. (“Royal Bancshares”) (NASDAQ: RBPAA ) common stock in connection with the proposed acquisition of Royal Bancshares by Bryn Mawr Bank Corporation (“Bryn Mawr”) announced on January 31, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Royal Bancshares, its Board of Directors (the “Board”), and Bryn Mawr, is captioned Parshall v. Royal Bancshares of Pennsylvania, Inc. , Case No. 1:17-cv-1641 (E.D. Pa.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A. , 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com ; or at http://rigrodskylong.com/contact-us/ .
On January 30, 2017, Royal Bancshares entered into an agreement and plan of merger (the “Merger Agreement”) with Bryn Mawr. Pursuant to the Merger Agreement, shareholders of Royal Bancshares will receive 0.1025 shares of Bryn Mawr common stock for each share of Class A common stock they own, and 0.1179 shares of Bryn Mawr common stock for each share of Class B common stock they own (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a registration statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission on March 29, 2017. The complaint alleges that the Registration Statement, which recommends that Royal Bancshares stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to Royal Bancshares’ financial projections, the analyses performed by Royal Bancshares’ financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Royal Bancshares common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A. , with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
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CONTACT: Rigrodsky & Long, P.A. Seth D. Rigrodsky Gina M. Serra (888) 969-4242 (302) 295-5310 Fax: (302) 654-7530 info@rl-legal.com http://www.rigrodskylong.com
