SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of 1st Colonial Bancorp, Inc. (OTCPK – FCOB)
BALA CYNWYD – September 25, 2025/Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of 1st Colonial Bancorp, Inc. (“1st Colonial” or the “Company”) (OTCPK – FCOB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Mid Penn Bancorp, Inc. (“Mid Penn”) (Nasdaq – MPB). Under the terms of the transaction, 60% of 1st Colonial common shares will be converted into Mid Penn common stock while the remaining 40% will be exchanged for cash. 1st Colonial shareholders will have the option to elect to receive either 0.6945 of a share of Mid Penn common stock or $18.50 in cash for each common share of 1st Colonial they own, subject to proration to ensure that, in the aggregate, 60% of the transaction consideration will be paid in the form of Mid Penn common stock. This values the transaction at approximately $20.03 per 1st Colonial common share.
The investigation concerns whether the 1st Colonial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration provides fair value to the Company’s shareholders.
If you own shares of 1st Colonial stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.