NEW YORK, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Level One Bancorp, Inc. (NASDAQ: LEVL) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with First Merchants Corporation (NASDAQ: FRME).
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On November 4, 2021, Level One announced that it had entered into an agreement to merge with First Merchants in a deal worth approximately $323.5 million. Pursuant to the merger agreement, Level One stockholders will receive $10.17 in cash and 0.7167 shares of First Merchants common stock for each share of Level One common stock owned. In addition, owners of Level One Non-Cumulative Perpetual Preferred Stock, Series B, will receive one share of a newly created series of preferred stock of First Merchants having voting powers, preferences and special rights that are substantially identical to the Level One Series B preferred stock. The deal is scheduled to close in the first half of 2022.
Bragar Eagel & Squire is concerned that Level One’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Level One’s stockholders.
If you own shares of Level One and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com
