SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Macatawa Bank Corporation (Nasdaq – MCBC)

BALA CYNWYD – April 16, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Macatawa Bank Corporation (“Macatawa” or the “Company”) (Nasdaq – MCBC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Wintrust Financial Corporation (“Wintrust”) (Nasdaq – WTFC) Under the terms of the agreement, each share of Macatawa common stock outstanding will be converted into the right to receive merger consideration paid in shares of Wintrust common stock based on Wintrust’s average trading price at closing determined in accordance with the merger agreement. The aggregate purchase price to Macatawa shareholders is currently estimated to be approximately $510.3 million, or $14.85 per share.

The investigation concerns whether the Macatawa Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the offer from Wintrust provides fair value to the Company’s shareholders.

If you own shares of Macatawa 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, 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.