Ademi LLP is investigating William Penn (Nasdaq: WMPN) for possible breaches of fiduciary duty and other violations of law in its transaction with Mid Penn Bancorp.
Click here to learn how to join our investigation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Under the agreement, shareholders of William Penn will receive 0.4260 shares of Mid Penn common stock for each share of William Penn common stock. Based on Mid Penn’s closing stock price of $31.88 per share as of October 30, 2024, the implied transaction value is approximately $13.58 per William Penn share, or $127 million, in the aggregate.
The transaction agreement unreasonably limits competing transactions for William Penn by imposing a significant penalty if William Penn accepts a competing bid. William Penn insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of William Penn’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own William Penn common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or here.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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