WILMINGTON, Del., Jan. 03, 2018 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Maryland on behalf of holders of Bay Bancorp, Inc. (“Bay”) (NasdaqCM:BYBK) common stock in connection with the proposed acquisition of Bay by Old Line Bancshares, Inc. (“Old Line”) announced on September 27, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Bay, its Board of Directors (the “Board”), and Old Line, is captioned Franchi v. Bay Bancorp, Inc., Case No. 1:17-cv-03699 (D. Md.).
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., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at firstname.lastname@example.org, or at http://rigrodskylong.com/contact-us/.
On September 27, 2017, Bay entered into an agreement and plan of merger (the “Merger Agreement”) with Old Line. Pursuant to the terms of the Merger Agreement, shareholders of Bay will receive between approximately 0.4047 and 0.4600 shares of Old Line common stock, subject to certain adjustments, for each share of Bay 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. The Complaint alleges that the Registration Statement omits material information with respect to, among other things, Bay’s and Old Line’s financial projections, the analyses performed by Bay’s financial advisors, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Bay common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than March 5, 2018. 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.