WASHINGTON, Aug. 13, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential shareholder claims arising from the proposed acquisition of Frontier Financial Corp. ("Frontier Financial" or the "Company") (Nasdaq:FTBK) by SP Acquisition Holdings, Inc. ("SPAH") (AMEX:DSP). Under the terms of the proposed merger, Frontier Financial shareholders will receive 0.0530 of a share of SPAH common stock and 0.0530 of SPAH warrants with an $11.50 per share exercise price for each share of Frontier Financial common stock owned.
The investigation is focused on potential unfairness of the proposed merger price and of the process by which the Frontier Financial Board of Directors is addressing the proposed acquisition. The Company's shares traded at $3.00 as recently as May 2009 and traded at a 52-week high of over $20.00 per share.
If you are interested in discussing your rights as a Frontier Financial shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in connection with securities and other finance-related litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com.