BALA CYNWYD, PA / ACCESSWIRE / November 4, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Level One Bancorp, Inc. ("Level One" or the "Company") (NASDAQ:LEVL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by First Merchants Corporation ("First Merchants") (Nasdaq - FRME). Under the terms of the merger agreement, Level One shareholders will receive 0.7167 share of First Merchants common stock, in a tax-free exchange, and $10.17 in cash for each share of Level One common stock owned, currently an approximate 75% stock / 25% cash mix. Based on the closing price of First Merchants common stock on November 3, 2021 of $43.50 per share, the implied merger consideration for each share of Level One common stock is $41.35 per share.
The investigation concerns whether the Level One Board breached its fiduciary duties to shareholders, and whether First Merchants is paying too little for the Company. If you own shares of Level One stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/level-one-bancorp-inc-nasdaq-levl/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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