June 10, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of TF Financial Corp (NASDAQ:THRD) shares, was announced concerning whether the takeover of TF Financial Corp by National Penn Bancshares at $42.00 per share is unfair to NASDAQ:THRD stockholders.

The investigation by a law firm concerns whether certain officers and directors of TF Financial Corp breached their fiduciary duties owed to NASDAQ:THRD investors in connection with the proposed acquisition.

On June 4, 2014, the Boards of Directors of National Penn Bancshares, Inc. (Nasdaq: NPBC) and TF Financial Corporation (Nasdaq: THRD) announced that the companies have entered into a merger agreement whereby National Penn Bancshares will acquire TF Financial Corp. TF Financial shareholders will receive either $42.00 in cash or 4.22 shares of National Penn Bancshares, Inc. stock, based on their election, for an estimated aggregate transaction value of $138 million.


However, the investigation concerns whether the offer is unfair to NASDAQ:THRD stockholders. More specifically, the investigation concerns whether the TF 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.

TF Financial Corp reported that its Net Income increased from $3.35 million in 2010 to $6.58 million in 2013. Shares of TF Financial Corp (NASDAQ:THRD) grew from $18.54 per share in October 2011 to $31.52 per share in April 2014.