PVF Capital Hit With Shareholder Suit Over $106M Merger

Law360, Los Angeles (July 24, 2013, 7:54 PM EDT) -- A shareholder of PVF Capital Corp. hit the company with a putative class action in Ohio federal court on Wednesday, challenging a $106 million deal under which FNB Corp. would acquire all of the outstanding shares of PVF in an all-stock transaction.

The complaint raises allegations that members of the PVF board of directors, also named as defendants, have violated the federal securities laws and breached their state law fiduciary duties to PVF’s shareholders by misrepresenting or omitting material information in proxy materials filed with the...
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