August 26, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Metro Bancorp Inc (NASDAQ:METR), was announced concerning whether the takeover of Metro Bancorp Inc. by F.N.B. Corporation for a value of approximately $32.72 per share is unfair to NASDAQ:METR stockholders.

The investigation by a law firm concerns whether certain officers and directors of Metro Bancorp Inc breached their fiduciary duties owed to NASDAQ:METR investors in connection with the proposed acquisition.

On August 04, 2015, F.N.B. Corporation (NYSE: FNB) and Metro Bancorp, Inc. (Metro) (NASDAQ: METR) jointly announced the signing of a merger agreement pursuant to which F.N.B. Corporation will acquire Metro Bancorp, Inc., the holding company and parent of Metro Bank, in an all-stock transaction valued at approximately $32.72 per share, or $474 million in the aggregate.

However, given that at least one analyst has set the high target price of NASDAQ:METR shares at $38.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:METR stockholders. More specifically, the investigation concerns whether the Metro Bancorp 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.

Metro Bancorp Inc reported that its Net Income increased from $0.29 million in 2011 to $21.09 million in 2014. Shares of Metro Bancorp Inc (NASDAQ:METR) grew from $8.05 per share in late 2011 to as high as $27.74 per share in March 2015.