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Bank & Thrift - Regulatory and Legal Developments
Law firm investigates First Keystone board in Bryn Mawr deal
November 04, 2009 6:18 PM ET
By Zeeshan Zafar
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Levi & Korsinsky LLP said Nov. 4 that it is investigating First Keystone Financial Inc.'s board for possible breaches of fiduciary duty and other violations of state law.

The probe comes in connection with the company's attempt to sell itself to Bryn Mawr Bank Corp.

The investigation centers on whether First Keystone's board breached its fiduciary duties to stockholders by failing to shop the company adequately before entering into the transaction and whether Bryn Mawr is unlawfully harming First Keystone's stockholders by underpaying for the First Keystone shares.



 

 


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