The Law Offices of Howard G. Smith is investigating whether the Board of Directors of Beverly National Corporation (AMEX: BNV) breached its fiduciary duty to its shareholders in agreeing to sell the Company to Danvers Bancorp, Inc. in a stock for stock deal valued at approximately $23.04 per share.
The Law Offices of Howard G. Smith believes that the deal is suspicious because it appears from a review of the Company's financial statements that the inherent value of the Company's stock is greater than $23.04 per share and also because the deal provides for members of Beverly's Board of Directors to personally profit from the deal by taking cushy new jobs as executives at Danvers.
If you own common stock in Beverly National Corporation (AMEX: BNV) and wish to protect your investment, please call the Law Offices of Howard G. Smith and speak to Mr. Smith directly regarding how he can help you or complete the online questionnaire and Mr. Smith will promptly call you.
