StellarOne Shareholder Rips $445M Community Bank Deal

Law360, Los Angeles (June 17, 2013, 4:15 PM EDT) -- A StellarOne Corp. shareholder Friday filed a proposed class action against the Virginia community bank seeking to block its $445 million merger with Union First Market Bankshares Corp., saying the deal's structure could shortchange StellarOne shareholders while benefiting the company's officers.

In Friday’s complaint in Virginia federal court, plaintiff Jaclyn Crescente ripped StellarOne for failing to pursue other possible deals to maximize benefits to the bank’s shareholders and criticized measures the bank took to lock into the Union merger. Crescente asked the court to block the...
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