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FNCB Bancorp, Inc.

Merger

  • Date:
  • 9/28/2023
  • Company Name:
  • FNCB Bancorp, Inc.
  • Stock Symbol:
  • FNCB
  • Company Name - Buyer:
  • Peoples Financial Services Corp.
  • Stock Symbol - Buyer:
  • PFIS
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 9/27/2023

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NEW YORK, September 28, 2023 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of FNCB Bancorp, Inc. (NASDAQ: FNCB) (“FNCB”) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Peoples Financial Services Corp. (NASDAQ: PFIS) (“Peoples”).

On September 27, 2023, FNCB announced that it had entered into an agreement to be acquired by Peoples in a $129 million all-stock deal. Pursuant to the merger agreement, FNCB shareholders would receive 0.1460 shares of Peoples common stock for each share of FNCB common stock they own. The deal is expected to close by the first half of 2024.

Bragar Eagel & Squire is concerned that FNCB's board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for FNCB's stockholders.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in FNCB Bancorp. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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