Atlantic Coast Financial Corp (NASDAQ:ACFC) Investor Investigation Over Possible wRongdoing In Acquisition Announced

If you purchased shares of Atlantic Coast Financial Corp (NASDAQ:ACFC) and currently hold any of those NASDAQ:ACFC shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Atlantic Coast Financial
Affected Securities: 
NASDAQ: ACFC

An investigation on behalf of investors, who currently hold shares of Atlantic Coast Financial Corp (NASDAQ:ACFC), was announced concerning whether the takeover of Atlantic Coast Financial Corp by Ameris Bancorp is unfair to NASDAQ:ACFC stockholders.

The investigation by a law firm concerns whether certain officers and directors of Atlantic Coast Financial Corp breached their fiduciary duties owed to NASDAQ:ACFC investors in connection with the proposed acquisition.

On November 17, 2017, Ameris Bancorp (Nasdaq: ABCB), the parent company of Ameris Bank, announced the signing of a definitive merger agreement under which Ameris Bancorp will acquire Atlantic Coast Financial Corporation (Nasdaq: ACFC). Under the terms of the definitive merger agreement, each share of Atlantic Coast common stock will be converted into the right to receive 0.17 shares of Ameris common stock and $1.39 in cash.

However, the investigation concerns whether the offer is unfair to NASDAQ:ACFC stockholders. More specifically, the investigation concerns whether the Atlantic Coast Financial Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.