First Clover Leaf Financial Corp. (NASDAQ:FCLF) Investor Investigation Over Buyout Announced

If you purchased shares of First Clover Leaf Financial Corp. (NASDAQ:FCLF) and currently hold any of those NASDAQ:FCLF 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): 
First Clover Leaf Financial
Affected Securities: 
NASDAQ: FCLF

May 05, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of First Clover Leaf Financial Corp. (NASDAQ:FCLF), was announced concerning whether the takeover of First Clover Leaf Financial Corp. by First Mid-Illinois Bancshares, Inc is unfair to NASDAQ:FCLF stockholders.

The investigation by a law firm concerns whether certain officers and directors of First Clover Leaf Financial breached their fiduciary duties owed to NASDAQ:FCLF investors in connection with the proposed acquisition.

On April 26, 2016 First Mid-Illinois Bancshares, Inc. (NASDAQ: FMBH) announced the execution of am agreement under which First Mid-Illinois Bancshares, Inc will acquire all of the outstanding shares of Fir First Clover Leaf Financial Corp. (NASDAQ:FCLF) in a cash and stock transaction valued at $12.87 per share, or a total of approximately $90 million
However, the investigation concerns whether the offer is unfair to NASDAQ:FCLF stockholders. More specifically, the investigation concerns whether the First Clover Leaf 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.