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WILMINGTON, Del., Aug. 21, 2017 -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Eastern District of Virginia on behalf of holders of WashingtonFirst Bankshares, Inc. (“WashingtonFirst”) (NasdaqCM:WFBI) common stock in connection with the proposed acquisition of WashingtonFirst by Sandy Spring Bancorp, Inc. and its affiliate (together, “Sandy Spring”) announced on May 16, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against WashingtonFirst, its Board of Directors (the “Board”), and Sandy Spring, is captioned Parshall v. WashingtonFirst Bankshares, Inc., Case No. 1:17-cv-00877 (E.D. Va.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242, by e-mail at [email protected], or at http://rigrodskylong.com/contact-us/.
On May 15, 2017, WashingtonFirst entered into an agreement and plan of merger (the “Merger Agreement”) with Sandy Spring. Pursuant to the Merger Agreement, shareholders of WashingtonFirst will receive 0.8713 shares of Sandy Spring common stock for each share of WashingtonFirst stock they own (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission on July 20, 2017. The Complaint alleges that the Registration Statement, which recommends that WashingtonFirst stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to WashingtonFirst’s and Sandy Spring’s financial projections, the analyses performed by WashingtonFirst’s financial advisor, and potential conflicts of interest. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of WashingtonFirst common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than October 20, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT: Rigrodsky & Long, P.A. Seth D. Rigrodsky Gina M. Serra (888) 969-4242 (302) 295-5310 Fax: (302) 654-7530 [email protected] http://www.rigrodskylong.com
