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Highlands Bankshares, Inc. (Other OTC: HLND)

Merger

  • Date:
  • 9/25/2019
  • Company Name:
  • Highlands Bankshares, Inc.
  • Stock Symbol:
  • HLND
  • Company Name - Buyer:
  • First Community Bankshares, Inc.
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 9/11/2019

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NEW YORK, September 25, 2019 – Bragar Eagel & Squire, P.C. is investigating potential claims against the board of directors of Highlands Bankshares, Inc. (NASDAQ: HLND) on behalf of Highlands shareholders concerning the proposed merger with First Community Bankshares, Inc.

Pursuant to the proposed transaction, announced on September 11, 2019 and valued at $91 million, Highlands shareholders will receive 0.2703 shares of First Community common stock for each share of Highlands common stock owned.  The investigation focuses on whether Highlands and its board of directors violated the federal securities laws and/or breached their fiduciary duties to the Company’s shareholders by failing to conduct a fair process and whether and by how much the proposed transaction undervalues the Company.

If you own Highlands shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Alexandra Raymond by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
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 Highlands Bankshares. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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