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If you purchased shares of Centrue Financial Corp (NASDAQ:CFCB) and currently hold any of those NASDAQ:CFCB shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
February 6, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Centrue Financial Corp (NASDAQ:CFCB), was announced concerning whether the takeover of Centrue Financial Corp. by Midland States Bancorp, Inc for $26.75 per share is unfair to NASDAQ:CFCB stockholders.
The investigation by a law firm concerns whether certain officers and directors of Centrue Financial Corp breached their fiduciary duties owed to NASDAQ:CFCB investors in connection with the proposed acquisition.
On Janiuary 2017, Midland States Bancorp, Inc. (NASDAQ:MSBI) and Centrue Financial Corp
(NASDAQ:CFCB) announced that they have entered into an agreement under which Midland will acquire Centrue Financial Corp (NASDAQ:CFCB) for estimated total consideration of $175.1 million, or $26.75 per share of Centrue common stock.
However, the investigation concerns whether the offer is unfair to NASDAQ:CFCB stockholders. More specifically, the investigation concerns whether the Centrue 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.
Centrue Financial Corp reported that its Net Loss of $4.51 million in 2014 turned into a Net Income of $42.60 million in 2015.
