On or around 06/20/2019 (Other)
Filing Date: May 28, 2019
According to the Complaint, this action stems from a proposed transaction announced on December 13, 2018, pursuant to which Virginia Partners Bank will be acquired by Delmar Bancorp. Pursuant to the terms of the Merger Agreement, shareholders of Virginia Partners Bank will receive 1.7179 shares of Delmar common stock for each share of Partners stock they own.
On May 10, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
This case was voluntarily dismissed on June 19, 2019.
Company & Securities Information
Defendant: Virginia Partners Bank
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: PTRS
Company Market: OTC-BB
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Paul Parshall, et al. v. Virginia Partners Bank, et al.