BALA CYNWYD, Pa., July 24, 2014 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Franklin
Financial Corporation ("Franklin Financial" or the "Company")
(Nasdaq: FRNK) relating to the proposed acquisition by
TowneBank.
Click here to learn more about the investigation
http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html,
or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Franklin Financial
shareholders will receive only 1.40 shares of TowneBank stock and
for each share of Franklin Financial stock they own. The
transaction represents a value of only approximately $23.04 per share.The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Franklin for not acting in the
Company's shareholders' best interests in connection with the sale
process.
The transaction may undervalue the Company and represents no
real premium for many Franklin Financial shareholders. For example,
Franklin Financial recently traded at $23.42 on July 1,
2014. In addition the transaction appears to be a capital
raise for TowneBank due to Franklin Financial's strong capital
base. As of March 31, 2014, Franklin
Financial had total deposits of $671
million and net loans of $555
million. The Company's capital ratios are among the
strongest in the nation.
If you own shares of Franklin Financial common 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, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/796-frnk-franklin-financial-corporation.html,
or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case 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 successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
SOURCE Brodsky & Smith, LLC