Avenue Financial Holdings Inc (NASDAQ:AVNU) Investor Investigation Over Possible Wrongdoing In Acquisition Announced

If you purchased shares of Avenue Financial Holdings Inc (NASDAQ:AVNU) and currently hold any of those NASDAQ:AVNU 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): 
Avenue Financial
Affected Securities: 
NASDAQ: AVNU

February 4, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Avenue Financial Holdings Inc (NASDAQ:AVNU), was announced concerning whether the takeover of Avenue Financial Holdings Inc by Pinnacle Financial Partners, Inc is unfair to NASDAQ:AVNU stockholders.

The investigation by a law firm concerns whether certain officers and directors of Avenue Financial Holdings Inc breached their fiduciary duties owed to NASDAQ:AVNU investors in connection with the proposed acquisition.

On January 29, 2016, Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) and Avenue Financial Holdings Inc (NASDAQ:AVNU) announced the signing of an agreement for Avenue Financial Holdings Inc (NASDAQ:AVNU) to merge into Pinnacle Financial Partners, Inc. Under the terms of the merger agreement, Avenue Financial Holdings Inc (NASDAQ:AVNU) shareholders will receive 0.36 shares of Pinnacle’s common stock and $2.00 in cash for every Avenue share or a value of approximately $20.03 per NASDAQ:AVNU share.

However, given that at least one analyst has set the high target price for NASDAQ:ANVU shares at $22.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:AVNU stockholders. More specifically, the investigation concerns whether the Avenue Financial Holdings 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.

Avenue Financial Holdings Inc reported that its Net income rose from $2.73 million in 2012 to $5.61 million in 2014.