BALA CYNWYD, PA / ACCESSWIRE / June 1, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of First Midwest Bancorp, Inc. ("First Midwest" or the "Company") (Nasdaq - FMBI) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Old National Bancorp ("Old National") (Nasdaq - ONB) in an all-stock transaction. Under the terms of the merger agreement, First Midwest shareholders will receive only 1.1336 shares of Old National common stock for each share of First Midwest common stock they own. Following completion of the transaction, former First Midwest stockholders are expected to collectively represent approximately 44% of the combined company.
The investigation concerns whether the First Midwest Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Old National is paying too little for the Company.
If you own shares of First Midwest stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/first-midwest-bancorp-inc-nasdaq-fmbi/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC