NEW YORK, Jan. 9, 2017
NEW YORK, Jan. 9, 2017 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cardinal Financial Corporation ("Cardinal" or the "Company") (NASDAQ: CFNL) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Cardinal securities. Such investors are advised to join this case by visiting the firm's site: http://www.bgandg.com/cfnl
The complaint alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and U.S. Securities and Exchange Commission ("SEC") Rule 14a-9 in regards to the proposed acquisition of the publicly owned shares of Cardinal common stock by United Bankshares, Inc. ("United"), through its wholly owned subsidiary, UBV Holding Company, LLC.
On August 18, 2016, Cardinal and United announced that the two companies had entered a definitive agreement under which United will acquire all of the outstanding Cardinal shares for 0.71 United shares for every 1 Cardinal share. By January 5, 2017, the per share consideration for Cardinal shareholders had an implied value of approximately $27.69 and the aggregate consideration was worth close to $912 million. The complaint alleges that the planned consideration is insufficient for Cardinal stock's true value and its growth forecasts. The complaint also alleges that the United's Registration Statement on Form S-4 filed with the SEC on December 9, 2016 provides materially incomplete and misleading information about its Company and the proposed contract, in violation of the Exchange Act.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/cfnl or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Cardinal you have until March 6, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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