Stock Symbol:
EVBN
Case Status:
Investigations
Ademi LLP is investigating Evans (NYSE American: EVBN) for possible breaches of fiduciary duty and other violations of law in its transaction with NBT.
In the transaction, Evans stockholders will receive 0.91 NBT shares for each share of Evans, resulting in an aggregate transaction value of approximately $236 million based on NBT’s closing stock price of $46.28 on September 6, 2024.
The transaction agreement unreasonably limits competing transactions for Evans by imposing a significant penalty if Evans accepts a competing bid. Evans insiders will receive substantial benefits as part of change of control arrangements.