SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Heartland BancCorp (OTC – HLAN)
BALA CYNWYD – July 30, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Heartland BancCorp (“Heartland” or the “Company”) (OTC – HLAN) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to German American Bancorp, Inc. (“German American”) (Nasdaq – GABC). Under the terms of the agreement, Heartland shareholders, other than the Heartland retirement plan, will receive 3.90 shares of German American common stock for each share of Heartland common stock in an all-stock, tax-free exchange. The shares held by the Heartland retirement plan will be exchanged for an equivalent cash payment. The indicated per share value to Heartland shareholders is $155.37 and the aggregate transaction value is approximately $330.2 million.
The investigation concerns whether Heartland Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether German American is paying fair value to shareholders of the Company.
If you own shares of Heartland 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 by email at clients@brodsky-smith.com, 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.