An investigation on behalf of investors of Wilmington Trust Corporation (NYSE: WL) shares, who purchased their shares in or pursuant to the public offering on February 23, 2010, over possible violations of Federal Securities Laws by Wilmington Trust Co was announced.

The investigation by a law firm on behalf of investors in Wilmington Trust Corporation (NYSE: WL), who purchased their shares in or pursuant to the public offering on February 23, 2010, concerns whether Wilmington Trust Co violated Federal Securities law in connection with its secondary public offering. On February 22, 2010 Wilmington Trust Corporation (NYSE: WL) announced that it has commenced an underwritten public offering of $250 million of its common stock. On February 23, 2010 Wilmington Trust Corporation announced that it has priced an underwritten public offering of 18,875,000 shares of its common stock at $13.25 per share. Wilmington Trust said the proceeds from the offering, net of underwriting discounts, will be $238,221,375, which will qualify as both tangible common equity and regulatory Tier 1 capital and will be used for general corporate purposes. Wilmington Trust also said that this may include the redemption of preferred stock issued to the U.S. Treasury under the TARP Capital Purchase Program, subject to regulatory approval.

Recently Wilmington Trust Corporation announced that it and M&T Bank Corp. have entered into an agreement under which Wilmington Trust will merge with M&T Bank. Several investors in Wilmington Trust Corporation filed lawsuits in State Court against Wilmington Trust Co directors for allegedly selling Wilmington Trust Corp. too cheaply to M&T Bank Corp.

Shares of Wilmington Trust Corporation (WL), which closed the trading day before the Nov.1 announcement at $7.11, fell in response to the proposed takeover by more than 40% and closed Monday, Nov. 1 at $4.21 per share. WL shares traded in the beginning of February at $12.18 per share but increased until April 22 to as high as $20.16 per share.