August 24, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of National Penn Bancshares (NASDAQ:NPBC), was announced concerning whether the takeover of National Penn Bancshares by BB&T Corporation is unfair to NASDAQ:NPBC stockholders.

The investigation by a law firm concerns whether certain officers and directors of National Penn Bancshares breached their fiduciary duties owed to NASDAQ:NPBC investors in connection with the proposed acquisition.

On August 17, 2015, BB&T Corporation (NYSE: BBT) and National Penn Bancshares (NASDAQ:NPBC) announced the signing of an agreement under which BB&T will acquire National Penn Bancshares (NASDAQ:NPBC) in a cash and stock transaction for total consideration valued at approximately $1.8 billion. Under the terms of the agreement National Penn stockholders can elect to receive 0.3206 of a share of BB&T common stock or $13.00 in cash for each share of National Penn common stock, subject to proration such that total consideration will consist of approximately $550 million in cash and approximately 31.6 million BB&T common shares.

However, the investigation concerns whether the offer is unfair to NASDAQ:NPBC stockholders. More specifically, the investigation concerns whether the National Penn Bancshares 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.

National Penn Bancshares reported that its Net Income increased from $53.39 million in 2013 to $98.71 million in 2014.

Shares of National Penn Bancshares (NASDAQ:NPBC) grew from $5.59 per share in mid 2010 to as high as $11.45 per share in July 2015.