February 17, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Xenith Bankshares Inc (NASDAQ:XBKS), was announced concerning whether the takeover of Xenith Bankshares Inc. by Hampton Roads Bankshares for a value of approximately $7.87 per share is unfair to NASDAQ:XBKS stockholders.

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

On February 10, 2016 Hampton Roads Bankshares, Inc., the holding company for the Bank of Hampton Roads, and Xenith Bankshares Inc (NASDAQ:XBKS)., the holding company for Xenith Bank, jointly announced that they have reached an agreement to merge. Under the terms of the agreement, Xenith shareholders will receive 4.4 shares of Hampton Roads Bankshares, Inc common stock for each share of Xenith Bankshares Inc (NASDAQ:XBKS) common stock. Based on the closing price of $1.79 per Hampton Roads Bankshares, Incs common stock on February 10, 2016, NASDAQ:XBKS shareholders will receive a value of approximately $7.87 per share.

However, given that at least one analyst has srt the high target price for NASDAQ:XBKS shares at $8.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:XBKS stockholders. More specifically, the investigation concerns whether the Xenith Bankshares 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.