NEW YORK, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Metrocorp Bancshares Inc. ("Metrocorp" or the "Company") (Nasdaq:MCBI) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to East West Bancorp, Inc. (Nasdaq:EWBC). A complaint was filed in Texas state court.
Click here to learn more about the investigation http://zlk.9nl.com/metrocorp-mcbi/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Metrocorp shareholders will receive the lesser of $14.60 per share and 1.72 times per-share tangible equity for each share of Metrocorp stock they own. The transaction has an approximate total value of $273 million. The claims concern whether the Metrocorp Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether East West Bancorp, Inc. is underpaying for Metrocorp shares.
If you own Metrocorp common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/metrocorp-mcbi/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP